Report: Sprint, Virgin Venture Eyes IPO
The two companies' Virgin Mobile wireless unit has contacted investment bankers for proposals.
The wireless telecommunications sector continues to buzz and now you can add the possibility of a hot initial public offering to the wave of merger activity.
Sprint
(FON)
and its U.K.-based partner
Virgin Group
are reportedly considering selling a stake in their U.S. wireless business through an IPO.
Virgin Mobile, which the two companies formed as a joint venture in 2001, is talking to investment banks about the idea, according to a report in
The Wall Street Journal
. The companies, however, have yet to green light the IPO and are only in the proposal stage.
Sprint shares closed Thursday at $24.51.
