A Spanish newspaper reported on Friday that Virgin Group is planning to purchase Yoigo, a budget mobile operator that's currently owned by Swedish telecom TeliaSonera.

Rumor has it that billionaire Richard Branson, founder and CEO of Virgin Group, hopes to invest in the Spanish telecoms market with plans to acquire Yoigo, proudly adding it to its existing huge portfolio of business ventures including airlines, railways, mobile phones and music stores, to name a few.

The billionaire is rumored to have begun talks with Yoigo's owners already. Yoigo however had refused to comment on the issue.

Two years ago, the Swedish telecoms company, had strived hard to bring in big firms for its proposed bidding.However, the telecoms company later decided not to sell Yoigo even to its possible highest bidder, who at that time was Britain's Vodafone. The British company had later acquired Spanish cable operator Ono instead.

The telecoms industry in Spain has been marked with a series of consolidation, with France's Orange buying out broadband firm Jazztel.

While the buying spree remains a rumor or a tightly-guarded secret at this stage, what has been clear lately is Richard Branson's deliberate acts of kindness towards Virgin Group employees. After offering unlimited vacation to its employees last year, the World's Best Boss pulls another stunt for Virgin's finance and licensing branch- one year of paid parental leave.

News of the billionaire giving a whopping 52 weeks of paid parental leave to 140 qualified Virgin employees, comes as a surprising delight to the firm's management staff based in London and Geneva.

The big perk is applicable for Virgin managers who have worked for the company for at least four years, and were told be eligible for the 100% paid leaves for a whole year, while the rest of the employees get 25%.

The move was inspired by Britain's new law on Shared Parental Leave which allows working parents to have 50 weeks of parental leave, of which 37 are paid.  However, Virgin's new leave perk, comes as without a doubt, a sweet treat for Virgin employees, since it promises to pay a whole year of paid leaves to working moms and dads.