Feeds

Virgin Mobile float is go

Bankers appointed, date pencilled

  • alert
  • submit to reddit

Security and trust: The backbone of doing business over the internet

Virgin Mobile is lining up advisers to help it make an Initial Public Offering (IPO) later this summer.

So far three banks have been chosen: Investec, JP Morgan and Morgan Stanley, and a fourth adviser will be appointed shortly before the flotation, according to Reuters. 28 June is the rumoured date for the stock market sale.

The sell-off could raise more than £1.3bn. Branson is believed to be using the money to fund expansion of his US airline.

But the company is not putting all its eggs in one basket - it is has bankers looking at debt restructuring plans if for any reason the flotation is impossible.

Virgin execs are believed to be meeting in the next few weeks to make a final decision.

The market for telco IPOs seems to be improving - both Belgacom and Eircom have made the jump this year.

Virgin operates as a virtual network - T Mobile provides all the network and technology in the UK. In the US it works with Sprint. It has 1.75m subscribers in the US and 3.2m worldwide.

Related stories

Virgin Mobile goes to Canada
Virgin Mobile 'preps £1.3bn float'
T-Mobile and Virgin settle long-running dispute
Vodafone tops 130m customers

Protecting users from Firesheep and other Sidejacking attacks with SSL

More from The Register

next story
Brit telcos warn Scots that voting Yes could lead to HEFTY bills
BT and Co: Independence vote likely to mean 'increased costs'
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
ISPs' post-net-neutrality world is built on 'bribes' says Tim Berners-Lee
Father of the worldwide web is extremely peeved over pay-per-packet-type plans
New 'Cosmos' browser surfs the net by TXT alone
No data plan? No WiFi? No worries ... except sluggish download speed
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Turnbull: NBN won't turn your town into Silicon Valley
'People have been brainwashed to believe that their world will be changed forever if they get FTTP'
Google+ GOING, GOING ... ? Newbie Gmailers no longer forced into mandatory ID slurp
Mountain View distances itself from lame 'network thingy'
Blockbuster book lays out the first 20 years of the Smartphone Wars
Symbian's David Wood bares all. Not for the faint hearted
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.