Virgin Mobile formally seals the deal on Helio acquisition

We know, the little possibility that the whole deal could fall apart has been keeping you wide awake for months, but at long last, you can push aside your anxiety and hit the sack. Virgin Mobile USA announced today that it had "completed its acquisition of Helio," and all of the terms put forth on June 27th were used in the final close. Aside from garnering all the necessary regulatory approvals, Helio shareholders SK Telecom and EarthLink have received 13 million shares of Virgin Mobile USA Class A common stock, with a value of around $38 million. It's also noted that both SK Telecom and Virgin Group will each invest a cool $25 million in Virgin Mobile USA for preferred shares. And then, there was one.

[(Unverified) Posted Aug 22nd 2008 4:50PM]

So long Helio.... I'm sad you didn't make it. Loved you while it lasted.... VM wasted their $$ buying this customer, I'm headed out the door..... instinct perhaps? iphone? touch diamond? SE X1? I don't know where to go next.... I'm so confused.... maybe cricket? LoL just kidding on that one... But seriously, where do I go?

[(Unverified) Posted Aug 22nd 2008 5:54PM]

Stick with Helio you Idiot !!!!

[(Unverified) Posted Aug 22nd 2008 10:59PM]

It's only the name going away- Virgin's taking on all the cool SK Telecom stuff.

[(Unverified) Posted Aug 23rd 2008 12:30PM]

I bought myself a Helio Ocean last year (pretty much exactly a year anyway, my 13th month bill is up on the 11th). I've been happy with it, despite the phone being slow. I've loved Helio's culture and the features the phone has.

When I saw the news about the merger, and the details (Helio name disappearing), I told myself I'd be dropping my service when it finally came through. I thought I had some time though.

Looks like it has, I'll just cancel before the 11th and pay the ETF.

Sprint here I come, waiting for the HTC Touch Pro.