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FTC gives Sprint's planned acquisition of Virgin Mobile the OK
News by Brian James Kirk on Tuesday August 25, 2009.
The Associated Press reports that the Federal Trade Commission has terminated an antitrust review of Sprint Nextel's acquisition of Virgin Mobile, meaning that the deal is one step closer to completion.
Regulatory approval by the Federal Communications Commission is still required, but analysts doubt that the organization will be an obstacle to the deal.
We reported the acquisition announcement late last month before Sprint filed its second quarter financials. Virgin Mobile did well in the second quarter, as we reported, and it is likely that Sprint is hoping to cash in on the company's success in the prepaid market.
About the author
Brian James Kirk
Brian is a former news editor on MobileBurn.com that freelances in Philadelphia. You can follow him on Twitter as @BrianJamesKirk.
Sarah Craig @ 3:27:23PM EDT on Tuesday August 25, 2009
Virgin Mobile used to be an upmarket brand but they have lowered their image recently by giving phones away to the poor with that safelink program. Now when you pull out that expensive Virgin phone people will think you are to poor to afford a decent phone. I doubt this sale to Sprint will improve things for Virgin clients, I'm going to go with a whole other prepaid carrier.