Bell Mobility aquires Virgin Mobile Canada

Bell Mobility (TSE: BCE) acquired 100% of Virgin Mobile Canada on May 7th, for a cost of $142 million CAD.  Bell, who already controlled 50% of the company, was purchasing the remaining 50% of the company controlled by Virgin Group.  Virgin Mobile Canada will continue to operate independently and maintain the Virgin branding.  Virgin Mobile was created in 2004 by an equal partnership between Virgin Group and Bell Mobility.  Virgin Mobile has been successful at targeting the youth market with its prepaid phones and more recently with its monthly plans.

Bell Press Release