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Virgin Mobile announces float

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Jun 30, 2004

Virgin Mobile has said today it plans to make its stock market debut in July. "It is intended that the global offer will be completed before the end of July and that shares will be sold to institutional investors in the UK and internationally," the company said in a statement. Virgin Mobile is expected to remain majority-owned by the music-to-airlines Virgin Group after the sale. An industry source familiar with the matter told Reuters that the company hoped to raise at least £250m in a listing that could see 40% of the mobile group come to market, depending on investor demand. Proceeds will go to Virgin Group.

"www.virgin.co.uk ":http://www.virgin.co.uk

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