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Virgin Mobile reject ntl offer

# 8 December 2005, 04:39 by Nemesis

The Telegraph is reporting that Virgin Mobile had last night dramatically rejected ntl’s £817m takeover offer, citing the approach “materially undervalued” the telecoms group. Last nights decision by the Virgin board was apparently not known by Virgin’s Sir Richard Branson and ntl chief executive, Simon Duffy.

However, despite the rejection – Sir Richard Branson is, according to the Telegraph, expected to press on with the deal even though he decided to leave the final decision to the Virgin board.

Read more @ the Telegraph.

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