Re: Virgin up for sale?
 

Its way too early to answer any of those questions Itshim. The deal will not be completed till about July I would think.

Re: Virgin up for sale?
 

Although Liberty have already said they have no current plans to change the name or TiVo

http://www.ft.com/cms/s/0/6e390f1a-7...44feab49a.html

Re: Virgin up for sale?
 

Of course the Patriot act applies to emails and to VM's email service which is provided by Google, an American company, with it's HQ in America.

Re: Virgin up for sale?
 

However Google has a European HQ in Ireland so has to comply with EU law and America comes under the 'Safe Harbour' agreements http://www.soas.ac.uk/infocomp/dpa/policy/outside/ so any request under the Patriot act would conflict with EU law

Re: Virgin up for sale?
 

From the live webcast on now:

Neil Berkett to leave, his wish, once the deal is done. Liberty keen to retain the rest of the vm board and use their expertise across the combined group.

Combined company will be world's largest cableco, bigger than Comcast.

Liberty broadly intend to leave vm alone, they won't be changing vm's network, or trying to merge vm's tech with other european operations.

Liberty will use vm's expertise in mobile/quad play across the combined business.

Liberty Global and Vm will become a new UK based company, with HQ still in US and listed on nasdaq.

Liberty to put $3 billion additional debt onto vm's books.....its tax efficient, so they say, for them to do it.

Liberty agree with vm's strategy of not bidding for premium content.

Re: Virgin up for sale?
 

But "Safe Harbour" is not that "safe".


http://www.zdnet.com/blog/igeneratio...s-eu-data/8805

Re: Virgin up for sale?
 

http://www.lgi.com/PDF/presentations...estor-Call.pdf

Might be worth taking a read through

Re: Virgin up for sale?
 

Whilst -

---------- Post added at 14:51 ---------- Previous post was at 14:50 ----------

Re: Virgin up for sale?
 

So in other words not much will change in the short term and its just carry on as normal with a steady hand on the tiller.

Re: Virgin up for sale?
 

Webcast very interesting. A very good presentation from Liberty's boss Mike Fries, a cool, calm person and his 50th birthday today. He called the vm deal "a nice present".

I think and despite what was said in the webcast, its far too early to see what the impact will be on vm and for us as customers.

As Fries said, Liberty do not have a major pressence in the UK, so its not like the ntl/telewest merger, or previous cableco mergers. As far as the UK goes, there's nothing to merge. The wider picture, though, is unclear.

Fries pointed that the European market is fragmented and underperforming and I believe he intends to use VM as best practice across all of Liberty's operations in Europe. As an example, Liberty has a lot of analogue subscribers and they're keen to learn from virgin how vm did things here.

US billionaire John Malone, major shareholder in Liberty, arch rival to Murdoch, had little to say.

To all, intents and purposes, Fries is now VM boss and in charge of UK cableco but whatever name it will be called. He said the VM name will remain but of course he also said that Liberty will redomocile to the UK and become a subsidary of a new, as yet unnamed company.

I think, long term, Liberty's operations will come under one brand, whether that be Virgin (I think not), UPC, Cablecom, Unity Media etc time will tell.

Liberty keen to buy more european assets.

---------- Post added at 15:10 ---------- Previous post was at 15:07 ----------

That's my impression, yes. Liberty are very happy with vm and how its set up.

As I tried saying to a poster last night, Liberty have been involved in uk cable for a long, long time. They know what's what and it won't be UPC guys telling vm what to do, but probably the other way around by all accounts.

Re: Virgin up for sale?
 

So basically, they spend a few billion on purchasing Virgin and hen can't be bothered to do anything to improve on the product? Great. Way to waste a few billion dollars.

Re: Virgin up for sale?
 

They said no such thing. What they have said is they see no reason to change the improvement plan Virgin Media are already on

Re: Virgin up for sale?
 

raises more questions of why has malone taken over the company if he not looking to progress it.

Another is now planned operational upgrades will they still go ahead or be shelved.

Said in my post I was wary of rejoicing its always case of careful what you wish for. VM and NTL before where no angels but now fearful future of VM.

Worry is this 3bn extra debt just for the privelage new owners, where its come from liberty accounts?. Why berkett wanting out, does he have issues. Will he spill beans what he dont like.

Re: Virgin up for sale?
 

There seems to be two main aims:

Vm, because of its debt and the way its set up is VERY tax advantageous. You don't pay corp tax, so liberty have kindly "handed" vm $3 of their debt.

Liberty want to use vm's expertise across its whole business, ie they don't have a mobile business of any worth. Vm do.

Liberty said they will continue to invest in vm's network.

Re: Virgin up for sale?
 

Windall for 4000 Virgin Media staff after Liberty Global deal.

http://www.telegraph.co.uk/finance/n...obal-deal.html