Quote:
Originally Posted by General Maximus
the money which the government gave them which apparently wasnt enough
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http://www.guardian.co.uk/media/2012...roadband-speed
"Virgin Media is to invest more than £100m on a programme that will more than double the broadband speed for most of its 4m internet customers.
Virgin Media intends to mostly fund the programme with the remaining £100m of the proceeds of the sale of its 50% stake in UKTV to US TV company Scripps.
The remainder of the approximately £350m sale value has been used as part of a share buy-back programme launched by Virgin Media.
In a typical year Virgin Media spends about £250m to £350m on capital expenditure – between 15% and 17% of total revenues – and has therefore had to earmark the UKTV proceeds to fill the extra funding over this amount."