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chandleo · 08-12-2005, 00:55

Just in from Digitalspy:

Virgin Mobile reject's NTL's offer

Virgin Mobile's board unanimously rejected a takeover bid from NTL on Wednesday, saying that NTL's offer of 323p per Virgin Mobile share "materially undervalues" the company.

Virgin Mobile's shares soared to 356p each on Monday after the NTL offer was unveiled; they have since dropped back to 345.5p, but the difference between that price and NTL's offer price clearly influenced the board's decision.

Shares in NTL dropped slightly in the US on Wednesday, closing at $62.44.

Source: http://www.digitalspy.co.uk/article/ds27063.html

08-12-2005, 00:55	#74
chandleo Inactive Join Date: Apr 2005 Location: Manchester Services: Virgin TV XL,TiVo & VHD, XL BB, M Telephone Posts: 29	Re: Virgin mobile merging with NTL to take on SKY Just in from Digitalspy: Virgin Mobile reject's NTL's offer Virgin Mobile's board unanimously rejected a takeover bid from NTL on Wednesday, saying that NTL's offer of 323p per Virgin Mobile share "materially undervalues" the company. Virgin Mobile's shares soared to 356p each on Monday after the NTL offer was unveiled; they have since dropped back to 345.5p, but the difference between that price and NTL's offer price clearly influenced the board's decision. Shares in NTL dropped slightly in the US on Wednesday, closing at $62.44. Source: http://www.digitalspy.co.uk/article/ds27063.html