Sprint PCS and Virgin announce terms of MVNO deal
Sprint PCS and Virgin Group announced they will have an equal interest in and mutual governance roles of Virgin Mobile USA, an mobile virtual network operator (MVNO) partnership the two companies created last fall.
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Sprint PCS said it will fund up to $150 million, of which the majority will be in the form of services and the remainder in cash. Virgin will put up $150 million in cash.
Virgin Mobile will be targeting the under-30 pay-as-you go market by mid-2002, said the companies.
--Lynnette Luna, Senior Editor
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© 2012 Penton Media Inc.
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