Optus buys out Virgin unit

01/12/2006 | Wall Street Journal, The

Optus, the no. 2 wireless carrier in Australia behind Telstra, has bought the 74% of Virgin Mobile Australia it didn't already own for US$22.5 million. The deal, which gives Optus a 15-year license to use the Virgin Mobile brand, should help the carrier compete more effectively against Telstra and other rivals.

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