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Virgin moves to US as 3G MVNOdate: June 10, 2001 Richard Branson's Virgin Group has chosen U.S. telecoms group Sprint as the partner for its $1 billion entry into the North American 3G wireless services as a mobile virtual network operators (MVNO). Virgin has had to mortgage his entire shares in Virgin Atlantic Airways to finance his move into the largely untapped and behind U.S. wireless market. Virgin has also held talks with Nextel Corp and AT&T as partners for 3G MVNO on the long-promised U.S. wireless move, is believed to have signed a notation of understanding with Sprint in the last few days and will announce the 50/50 venture within a few weeks. Branson said the mortgaging of his airline share was to slowly exited from the airline business to wireless and freed up money to fund expansion of his next generation high-speed 3G mobile phones in the North American market.
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