Bell Mobility has completed its $142-million acquisition of the 50% stake in Virgin Mobile Canada not already owned...
July 8, 2009
Bell Mobility has completed its $142-million acquisition of the 50% stake in Virgin Mobile Canada not already owned by Bell, along with a long-term brand licensing agreement with the Virgin Group, after fulfilling all regulatory, legal and other closing requirements.
The company also announced that Robert Blumenthal will assume the role of president of Virgin Mobile Canada, and confirmed that Virgin Mobile products and services will be available at The Source retail locations in January 2010.
Virgin Mobile will also have access to Bell’s newest national 3G (third generation) wireless network, set to launch by early 2010.
While Virgin Mobile Canada will access Bell’s existing and new wireless networks and share common distribution in high-traffic retail locations, the company will continue to operate independently of Bell with its own brand, customer service operations and executive leadership team.