Wednesday, January 11, 2006

Virgin Aussie Unit Bought Out by Optus

Via Red Herring.

Singapore Telecommunications’ Australian mobile unit, Optus, acquired a remaining 74.15 percent stake in Virgin Mobile Australia on Wednesday for AUD 30 million ($22.6 million).

The acquisition brings Optus’ stake in Virgin Mobile Australia (VMA) to 100 percent. Optus and the Virgin Group launched VMA as a 50-50 joint venture in 2000. Virgin Group later increased its shareholding to 74.15 percent during 2002.

posted by Fergie @ 1/11/2006 10:48:00 AM

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