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Virgin Mobile deal done

The $483 million deal to add Virgin Mobile USA’s 5.25 million pre-paid subscribers to the Sprint Nextel family was completed today.

Shareholders approved the deal that swaps each share of Virgin for 1.3668 Sprint shares, with a market value of $5.17 based on afternoon trading. Sprint shares were off 12 cents at $3.78.

Some shareholders groups received different terms.

Sprint plans to keep the Virgin brand along side its Boost Mobile brand, which sports 4.3 million subscribers.

Sprint and Virgin announced the deal in July. The price tag includes the 13.1 percent stake Sprint had in Virgin at the time.