A spokesman for Britain's Virgin Group on Friday said the company has signed a memorandum of understanding (MOU) with American carrier Sprint PCS to offer a Virgin wireless phone service in the United States. The MOU means "there is a mutual understanding between two companies to launch a new business," said Virgin Group spokesman Steven Day.
Earlier Friday, Sprint PCS issued a two-sentence statement confirming that talks between the two companies are under way. Both sides have "agreed on certain preliminary matters. No definitive agreement has been reached and there are no assurances that any transaction will be consummated," the statement read.