Optus to buy MVNO Virgin Mobile Australia for up to $100M

According to reports, SingTel's Australian unit Optus is set to pay the Branson Group up to $100 million for its 75 percent stake in Virgin Mobile Australia. The MVNO runs over Optus' infrastructure. The deal would switch the customers to Optus' books. The company is expected to keep Virgin Mobile as a standalone business. Optus has also been rumored to be in talks to purchase AAPT, the Australian division of Telecom NZ. Analysts say the Virgin Mobile deal will not eliminate Optus from the bidding for AAPT. NTL is also reportedly still in talks with Virgin Mobile UK for a takeover.

For more on the Virgin Mobile Australia buyout:
- see this article from News.com.au