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Virgin Mobile to launch $100m US flotation

Virgin Mobile USA is planning an initial public offering for up to $100m (€73.5m), hoping to emulate the success of wireless operator MetroPCS Communications, which raised $1.15bn in the biggest US flotation of the year so far.

Lehman Brothers is leading the Virgin Mobile offering with Merrill Lynch and Banc of America Securities as joint bookrunners. The number and price of the shares has not yet been disclosed.

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