Thread: ALL Virgin / NTL merger discussion
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Old 04-12-2005, 15:29   #18
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Re: Virgin mobile merging with NTL to take on SKY
More news:

http://news.bbc.co.uk/1/hi/business/4496894.stm

http://www.ananova.com/business/stor...840.html?menu=

---------- Post added at 14:28 ---------- Previous post was at 14:27 ----------

Ananova will remove the story soon, so I will quote it before then:
Quote:
Originally Posted by Ananova
Branson Eyes £4.5bn NTL Merger

Sir Richard Branson looks poised to merge his Virgin Mobile phones business with cable company NTL to create a new media powerhouse.

The move will create a £4.5bn entertainment and communications giant with more than nine million customers.

The proposed deal, which will see NTL rebranded Virgin, amounts to a reverse takeover.

It will provide the UK's first "quadruple play" service, made up of mobile phones, fixed-line phones, internet broadband and television.

According to the Sunday Telegraph, Sir Richard will swap his 72% stake in Virgin Mobile for a 14% slice of the enlarged cable and mobile group.

This will make him the biggest single shareholder in the new company.

It is thought that NTL will table an offer for Virgin Mobile above the latter's 311p Friday closing price.

The proposed deal, which already has Sir Richard's backing, is subject to the ££.4bn tie-up of NTL and rival Telewest going through.
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