With Helio burning through cash like it's going out of style, the youth-targeted MVNO could really use a helping hand. And, what better way to position yourself as the premier MVNO in the US than to buy up your closest rival.

Reports are circulating that SK Telecom, Helio's only remaining parent company, and Virgin Mobile USA are negotiating a merger deal that would increase SK Telecom's US-holdings and give their US market aspirations a renewed push. If SK Telecom ends up acquiring Virgin Mobile USA, Helio and Virgin Mobile USA could be merged into a single MVNO. Both providers lease network time from Sprint, so the handsets and network technologies used between both Helio and Virgin Mobile USA will be compatible.

Full story: intomobile.com