NTL and Virgin in takeover talks
View at BBC NEWS
NTL has confirmed it has approached Virgin Mobile over merging the firms.
Virgin Mobile shareholders would be offered 0.09298 of NTL shares for each Virgin one, or 323p per share instead, valuing the firm at more than £800m.
NTL said it had also held preliminary discussions with T-Mobile, Virgin Mobile's network provider, which has said it supports any proposed deal.
If the deal goes ahead NTL will use the Virgin brand to offer internet access, TV and fixed line and mobile telephony.
Sir Richard Branson owns 72% of Virgin Mobile through his Virgin Group holding company.
NTL has confirmed it has approached Virgin Mobile over merging the firms.
Virgin Mobile shareholders would be offered 0.09298 of NTL shares for each Virgin one, or 323p per share instead, valuing the firm at more than £800m.
NTL said it had also held preliminary discussions with T-Mobile, Virgin Mobile's network provider, which has said it supports any proposed deal.
If the deal goes ahead NTL will use the Virgin brand to offer internet access, TV and fixed line and mobile telephony.
Sir Richard Branson owns 72% of Virgin Mobile through his Virgin Group holding company.
Comments
Post a Comment