Virgin Mobile to be floated

Virgin Mobile have announced they are to float on the Stock Exchange in July.
It is expected to value Virgin mobile at £1.0 Buillion ($1.8 Billion) with shares representing 40% of the company to be sold on the market
Virgin Mobile is the UK's fith largest mobile phone operator with 4.1 million custromers. it wa slaunched in 1999

Now, what is SRB going to do with all that money? BMI anyone???

Interesting - especially remembering Virgin Music got sold in '92 so SRB could expand VS [8D]

Cheers

Michael

it's either VS to expand or VS to buy BMI (I think BMI is worth slightly more that 1 billion.

A lot of media pundits are saying that the money will be used to start up Virgin America. Also, under the buyout agreement, Virgin have to pay T-Mobile 25% as they're floating within 2 years of the agreement.

[mitchja]

Could be good for us V Mobile users - from a share point of view but I'm a little concerned what will happen to the running of the network.

Regards

[Bazz]

Looks like they hope to raise £1.3B brief story here:

http://www.theregister.co.uk/2004/04/13/virgin_float/

Doesn't look like the City are too impressed with the initial pricing:

http://www.thisislondon.co.uk/news/business/articles/timid80446
http://www.thisislondon.co.uk/news/business/articles/timid80525

Cheers

Michael