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Old 24-07-2007, 20:39   #262
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Re: Virgin Media News

Virgin's high court claim that Sky has abused its dominant position in the pay-TV market has been scheduled for trial next year.

Andrew Morritt, chancellor of the high court, formally approved a timetable under which documents will be exchanged in March, followed by a trial some months later, Reuters reported.

Meanwhile, Virgin has asked for first round bids from potential buyers, which could be prepared to pay as much as £11.5bn including debt.

Earlier this month, Virgin confirmed it had received an approach, understood to be from the private equity group Carlyle.
Since then, a consortium involving four private equity houses - Providence, KKR, Cinven and Blackstone - has also entered the fray, as has US buyout firm TPG.

Apax Partners is also believed to be interested in the auction, which is being conducted by Goldman Sachs.

Potential trade buyers so far mentioned are Viacom, Time Warner, John Malone's Liberty Media and US cable group Comcast.

Interested parties are being asked to submit first bids in the first 10 days of August, with second round bids likely to go in by mid-September.
Virgin declined to comment.

http://media.guardian.co.uk/broadcas...133713,00.html


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