Bell acquires Virgin Mobile Canada for CA$142 million
It seems Virgin?s mobile venture in Canada was not a success as the company expected, hence they agreed to sell their assets to their partner - Bell Canada. Under the terms of the deal, the earlier 50-50 joint venture will now be completely owned by Bell which paid CA$142 million (about $121 million U.S. dollar wise) for the privilege. Moreover, as part of the agreement, Bell managed to secure ?exclusive, long-term? licensing deal to keep using Virgin?s brand. As a result, we might see Bell?s other MVNO, Solo Mobile, going under. Or not - it?s way to early to speculate, but having two virtual operators doesn?t seem like an easy task to manage, though I may be wrong on this one. We?ll see?