Feeds

Virgin Mobile 'preps £1.3bn float'

Fallback option

  • alert
  • submit to reddit

Remote control for virtualized desktops

Everyone knows that Virgin Mobile will float. The only questions are: when and for how much? The Guardian today supplies the answers, courtesy of uncited sources: June and £1.3bn.

The market capitalisation is ambitious, by far the biggest amount trailed to date for the mobile virtual network operator (MVNO). Past analyst estimates of Virgin Mobile's worth have ranged from £500m to £1bn.

Virgin Mobile sub-contracts all the technical stuff to T-Mobile and concentrates on the branding, billing and customer relationships. And very successful it has been too, scooping up 3.6m customers, as of December end, 2003.

In January 2004, Virgin tidied itself up for float by bringing to an end an acrimonious dispute over revenue share with T-Mobile. T-Mobile will be keen to see a Virgin Mobile listing, as it gets 25 per cent of any equity value over £550m, capped at £100m - so long as the float is conducted within the next 2.5 years.

Virgin is also hiring advisers to design a long-term debt financing package, as - a fallback option, in case flotation conditions are poor, The Guardian says. But recent signs are promising with the return in 2004 of the tech IPO to Europe. Belgacom and Eircom were successful floats this year, and now Newport Networks and Neteller are joining the IPO queue. ®

Internet Security Threat Report 2014

More from The Register

next story
Download alert: Nearly ALL top 100 Android, iOS paid apps hacked
Attack of the Clones? Yeah, but much, much scarier – report
Broadband sellers in the UK are UP TO no good, says Which?
Speedy network claims only apply to 10% of customers
Virgin Media struck dumb by NATIONWIDE packet loss balls-up
Turning it off and on again fixes glitch 12 HOURS LATER
BEST EVER broadband? Oh no you DIDN'T, Sky – ad watchdog
Rival BT moaned that claim was misleading
Fujitsu CTO: We'll be 3D-printing tech execs in 15 years
Fleshy techie disses network neutrality, helmet-less motorcyclists
Facebook, working on Facebook at Work, works on Facebook. At Work
You don't want your cat or drunk pics at the office
Soz, web devs: Google snatches its Wallet off the table
Killing off web service in 3 months... but app-happy bonkers are fine
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Mitigating web security risk with SSL certificates
Web-based systems are essential tools for running business processes and delivering services to customers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.