Business > AmericasAP
Friday, May 16, 2008
WARREN, New Jerseu -- Virgin Mobile USA Inc. said Wednesday it is in preliminary talks with South Ko
rea's SK Telecom Co. about possible "strategic options," a phrase that usually suggests a buyout or major investment. Shares of Virgin Mobile rose 33 cents, or 11 percent, to close at US$3.37 after initially jumping 47 percent on the news. The U.S. wireless unit of Richard Branson's Virgin Group, which went public at US$15 per share last October, said the talks are in early stages and it will have no further comments until a deal is reached.
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