Virgin and Helio to merge?

The two MVNOs are reported to be in talks to become one. Helio, controlled by SK Telecom, has been in financial trouble since Earthlink pulled its funding. SK Telecom wants to increase its presence in the US, but they have been forced to grow look or at exiting the market all together. Virgin Mobile offers a stable partner and would gain higher end post-paid plans as well as cutting edge phones from Helio. Both products currently run off of Sprint's network, so there would be minimal integration issues. One possible move is for SKT to buy Virgin USA, pump cash into the company and then acquire Helio in an all-stock purchase. Neither side has confirmed these plans however, so for now we'll treat this as rumor.

source: MOCOnews via EngadgetMobile