Ntl To Buy Vm Uk For $1.68 Billion

Triband81 · 05-04-2006, 10:41

NTL to acquire Virgin Mobile UK for $1.68B
Apr 4, 2006
LONDON?United Kingdom cable operator NTL said it reached a deal to acquire Virgin Mobile Holdings (UK) plc for $1.68 billion.
The news ends months-long negotiations between the two companies. Virgin initially turned down an offer from NTL in early December, saying that the offer "materially undervalue[d]" Virgin Mobile. NTL subsequently upped its bid and today reached a price Virgin?s board agreed to.

NTL already licenses the Virgin brand for its broadband offerings, and as of December it said it was in talks to extend the license to cover television, wireline and wireless phone services. Now, with NTL acquiring Virgin outright, the company can become a quadruple player using the Virgin brand.

The deal does not affect Virgin Mobile USA Inc.

http://www.rcrnews.com/news.cms?newsId=26023

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Triband81 (Offline) Senior Member Prepaid Pioneer Posts: 529 Join Date: 01 Dec 2004 Location: Köln Country:	05-04-2006, 10:41 NTL to acquire Virgin Mobile UK for $1.68B Apr 4, 2006 LONDON?United Kingdom cable operator NTL said it reached a deal to acquire Virgin Mobile Holdings (UK) plc for $1.68 billion. The news ends months-long negotiations between the two companies. Virgin initially turned down an offer from NTL in early December, saying that the offer "materially undervalue[d]" Virgin Mobile. NTL subsequently upped its bid and today reached a price Virgin?s board agreed to. NTL already licenses the Virgin brand for its broadband offerings, and as of December it said it was in talks to extend the license to cover television, wireline and wireless phone services. Now, with NTL acquiring Virgin outright, the company can become a quadruple player using the Virgin brand. The deal does not affect Virgin Mobile USA Inc. http://www.rcrnews.com/news.cms?newsId=26023