BBC Homepage World Service Education
BBC Homepagelow graphics version | feedback | help
BBC News Online
 You are in: Business
Front Page 
World 
UK 
UK Politics 
Business 
Market Data 
Economy 
Companies 
E-Commerce 
Your Money 
Business Basics 
Sci/Tech 
Health 
Education 
Entertainment 
Talking Point 
In Depth 
AudioVideo 

Friday, 15 June, 2001, 07:11 GMT 08:11 UK
Virgin Mobile eyes the US
Sir Richard Branson in Virgin Mobile promotion display with scantily clad ladies
Sir Richard wants to take his Virgin Mobiles to the US
The US long distance telecoms company Sprint is in talks with Sir Richard Branson's mobile phone company to sell Virgin Mobile products in the US, Sprint has revealed.

The two companies have agreed on some "preliminary matters" and are working to reach a definite agreement.

Previous press reports citing rumours of the talk suggested the alliance could result in the creation of a $1bn joint venture.

But there are no guarantees a deal is reached, Sprint cautioned.

Set-up costs

Entering new markets is costly, and Virgin Mobile has reportedly set aside 50m to cover initial costs.

But if a deal is agreed, the joint venture is expected to stand on its own feet in the near future.

If it is formed, the new company is believed to be keen to approach venture capitalists in its own fund raising push.

But first, the two companies must consider how the tough competition in Sprint's markets would affect the joint venture, noted Sprint.

Search BBC News Online

Advanced search options
Launch console
BBC RADIO NEWS
BBC ONE TV NEWS
WORLD NEWS SUMMARY
PROGRAMMES GUIDE
See also:

31 May 01 | Business
Telecoms giants abandon Sprint
17 Apr 01 | Business
Sprint profits plummet
09 May 01 | Business
Virgin Mobile eyes Japan
02 May 01 | Business
Vodafone pays 4.8bn for BT stakes
19 May 00 | Business
Virgin in $1bn mobile deal
16 Feb 01 | Business
EU warns Japan over telecoms
11 Oct 00 | Business
Japan's m-commerce boom
19 Dec 00 | Business
Branson's luck runs out
Internet links:


The BBC is not responsible for the content of external internet sites

Links to more Business stories are at the foot of the page.


E-mail this story to a friend

Links to more Business stories