Update: Virgin Mobile is buying Helio, writes Reuters, for $39m.
The deal is expected to close in the third quarter of 2008, and Virgin Mobile said the Virgin Group and SK Telecom will each invest $25 million of equity capital in the company.Here's one for the Passive-Aggressive Notes Blog: Helio, the virtual cellular network, is edging closer to its demise. This note, shot by Denver resident Sue Marek, shows that retail outlets are wrapping things up – but also that other parts of the company might be here to stay. The website's still taking orders, but with only 200,000 subscribers, whither thou goest can't be that far from contracting to just wither. This would be a good chance for Sprint to shore up its subscriber count a little, were it not for the fact that Sprint does not let you activate Sprint-compatible phones sold by MVNOs that resell its bandwidth. That's even true of Sprint-branded phones, such as those from Kajeet. Photos: Helio Stores Close Up Shop [Fiercewireless via Engadget]