Forward-looking statements are qualifiedīy the inherent risk and uncertainties surrounding future expectations generally and may materially differ from actual future experience. This press release includes forward-looking statements regarding the acquisition and related transactions that are not historical orĬurrent facts and deal with potential future circumstances and developments, in particular information regarding the rate of growth in the prepaid wireless segment and expected synergies from the acquisition. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 The companys customer-focused strategy has led to improved first call resolution and customer care satisfaction scores. Instant national and international push-to-talk capabilities and a global Tier 1 Internet backbone. Technologies, including two wireless networks serving more than 48 million customers at the end of the third quarter of 2009 and the first and only 4G service from a national carrier in the United States industry-leading mobile data services Sprint Nextel is widely recognized for developing, engineering and deploying innovative Dan Schulman, formerly the CEO of Virgin Mobile USA, is now the president and Matt Carter, former head of Boost, will lead the sales and marketing efforts for the combined prepaid group.Ĭomprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. To enjoy the benefits of their current phones, service plans and features and do not need to take any action. Virgin Mobile USAs Class A common stock will cease trading on the NYSE as of the closing of the market today and will be delisted.Ĭustomers using Sprints Boost Mobile or Virgin Mobile USAs products and services will continue
Push to talk cell phones at sprint license#
Pursuant to the Trademark License Agreement, the Tax Receivable Agreement and the Subordinated Secured Revolving Credit Agreement in cash. Sprint Nextel elected to make each of the payments required SK Telecom will receive 144.4588 shares of Sprint Nextel common stock for each share of Virgin Mobile USA preferred stock owned by SK Telecom.Īll of Virgin Mobile USAs outstanding debt has been retired, including amounts due under its Senior Secured Creditįacility and its related party Subordinated Secured Revolving Credit Agreement.
SK Telecom will receive 1.2279 shares of Sprint Nextel common stock for each share of Virgin Mobile USA common stock owned by SK Telecom. The Virgin Group will receive 149.6941 shares of Sprint Nextel common stock for each share of Virgin Mobile USA preferred stock owned by the Virgin The Virgin Group will receive 1.2724 shares of Sprint Nextel common stock for each share of Virgin Mobile USA common stock owned by the Virgin Group. Telecom) will receive 1.3668 shares of Sprint Nextel common stock for each share of Virgin Mobile USA Virgin Mobile USA stockholders will receive shares of common stock of Sprint Nextel based on the exchange ratios described below, andĪll stockholders of Virgin Mobile USA (excluding Sprint Nextel, the Virgin Group and SK With Boosts continued success and the iconic Virgin Mobile brand under one umbrella, Sprint will offerĬustomers value and flexibility with great devices running on a dependable network with great coverage.
prepaid segment, Sprint is further positioning itself as a leader, said Dan Hesse, Sprint CEO. With this approval, all closing conditions for the transaction were met.Ĭontinued growth in the U.S. USA stockholders approved the transaction with Sprint. Segment by bringing together the iconic Virgin Mobile brand with Sprints successful Boost Mobile business. The acquisition of Virgin Mobile USA strengthens Sprints position in the growing prepaid 24, 2009 Sprint NextelĬorporation (NYSE:S) and Virgin Mobile USA, Inc., (NYSE: VM) today announced that they have completed their previously announced merger transaction. Will Continue With Current Services and Plans (908) 607-4108 NEXTEL COMPLETES ACQUISITION OF VIRGIN MOBILE USAĮxisting Boost and Virgin Mobile USA Customers Joint Press Release of Virgin Mobile USA, Inc.
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