Virgin Mobile To Buy Helio From SK Telecom

According to latest reports, Helio’s parent, SK Telecom and Virgin Mobile USA have reached an agreement that will see Helio moving to Virgin Mobile USA, along with its 200,000 customer base. Apparently, the deal could be announced officially as early as this week.

In return for handing over Helio, SK Telecom will reportedly receive a 20% stake in Virgin Mobile USA, which is roughly worth $50 million. SK Telecom have supposedly also agreed to invest more capital into Virgin Mobile USA.