Virgin Media seek talks with ITV again

Virgin Media are seeking talks with ITV again. Will they never learn!!!!!


http://business.timesonline.co.uk/to...cle1356266.ece

[Nikesh]

I'm sure it will good if Virgin Media can merge with ITV though.

[Horizon]

The article is really meant to be about a content deal with ITV, not a takeover.

While Murdoch owns a stake "the poison pill" in ITV, VM will never make a bid for it. The article made me laugh. As always the lazy journalists make huge errors in their articles. The article said that VM can't make a new offer for ITV until after six months after its initial one. (regulations et all) Which is a bit odd considering ntl never made a bid for ITV in the first place!

[jcuk]

wasent it that ntl were interested in making a bid ? tbh i didnt read much on it

Originally Posted by Neptune

The article is really meant to be about a content deal with ITV, not a takeover.

While Murdoch owns a stake "the poison pill" in ITV, VM will never make a bid for it. The article made me laugh. As always the lazy journalists make huge errors in their articles. The article said that VM can't make a new offer for ITV until after six months after its initial one. (regulations et all) Which is a bit odd considering ntl never made a bid for ITV in the first place!

They did - they made an offer of £4.7 Billion, which ITV rejected claiming it had 'materially undervalued' their company. However, the rejection followed BSkyB’s purchase of a 17.9% stake in ITV. (About £940 Million worth of ITV shares).

[Horizon]

Originally Posted by jcuk

wasent it that ntl were interested in making a bid ? tbh i didnt read much on it

That's right, ntl made a proposal to bid for ITV, which ITV rejected. Ntl never actually made a bid for ITV though. Bit like saying to your best mate, "I propose to give you £50 for your old computer." Is not the same as saying, "I'm giving you £50 for your old computer."

Originally Posted by Mick

They did - they made an offer of £4.7 Billion, which ITV rejected claiming it had 'materially undervalued' their company. However, the rejection followed BSkyB’s purchase of a 17.9% stake in ITV. (About £940 Million worth of ITV shares).

No, it wasn't a bid. It was a proposal. A proposal is not the same as a bid.

Here is a link to ITV's rejection of the proposal:

http://www.investegate.co.uk/Article...1211155474339M

If you are proposing an amount to buy something, you are suggesting an offer and you are making that offer. Which is still a bid. ntl made a bid and it was rejected - so the article appears to be correct when it says.. VM can't make a new offer for ITV until after six months after its initial one.

[Horizon]

OK, let me put it another way....ebay.

If you propose to make a bid of £50 for a computer on ebay, is that the same as making a bid of £50 for the computer? Think about it. There's a difference - a big one!

You said it yourself...ntl were "suggesting" a bid for ITV. They never actually made one.

[lostandconfused]

but even if they did make a bid, virgin media has never bid for ITV, so surely they could bid if they wanted to now?

[Horizon]

Virgin is just a new label for ntl:telewest. It's the same company. But VM could make a bid now if it wanted, but why would it when Murdoch went ahead and bought the ITV shares. Murdoch=action, ntl=suggestion. A big difference.

ntl still made an offer regardless if it was a proposal. It's even more so the case when the other party, to which an offer is being made, is able to *reject* it. Turn it down. We are purely discussing semantics here.

[Horizon]

Ok, if that's what you believe, fine.

It's not about what I believe - its about logic. If you go to another company and make a proposal (A proposition, which is the same thing) and they have turned it down, in essence, you have still made an offer to them.

[Horizon]

OK, one last try here

Find me the ntl complaint to regulators complaining of Sky ruining their "bid" for ITV. You won't find it. What ntl have done is complain on two fronts to regulators:

1 - ntl have complained to regulators that under the Enterprise Act, Sky now has a material influence over ITV. So, ntl are saying this is stiffling competition under the Act.

2 - ntl is also complaining with support of many MPs, that by Sky having a large stake in ITV, this is not in the "public interest." As ITV is a public service broadcaster.

At no time, can ntl complain that Sky have ruined ntl's bid for ITV, because no such bid was made.

---------- Post added at 02:55 ---------- Previous post was at 02:49 ----------

I've just checked the city regs on this and because ntl made a proposal for ITV, ntl can't make a proposal or bid for another six months. But..., that is still not a bid, it's not semantics! There is a big difference, hence that's why there has been no complaint from ntl about Sky ruining their chances of buying ITV.

I think this press release makes things clear, I hope

http://www.investegate.co.uk/Article...2060701113280N

---------- Post added at 03:53 ---------- Previous post was at 02:55 ----------

Originally Posted by Mick

It's not about what I believe - its about logic. If you go to another company and make a proposal (A proposition, which is the same thing) and they have turned it down, in essence, you have still made an offer to them.

Logic is normally good except when it comes to the law, then it's thrown out of the window Talking of which and considering I'm half drunk and awake, I've dug up the law for you.

Go to page 65 onwards, requires java and acrobat reader. It explains all about the bid process:

http://www.thetakeoverpanel.org.uk/n.../DATA/code.pdf

Alternatively, call Virgin Media's or ITV's press office and ask them if a bid was ever made.

[Chrysalis]

Originally Posted by Neptune

OK, let me put it another way....ebay.

If you propose to make a bid of £50 for a computer on ebay, is that the same as making a bid of £50 for the computer? Think about it. There's a difference - a big one!

You said it yourself...ntl were "suggesting" a bid for ITV. They never actually made one.

to me its the same you confusing me, how can you propose a bid, a bid is a bid but I guess you meant it was a sort of unofficial bid.