NTL completes Virgin.net buyout

Deal done

NTL today confirmed it has completed the acquisition of Virgin.net. Formerly a joint venture between the cableco and Virgin, the ISP is now wholly owned by NTL.

With some 600,000 customers, Virgin.net gives NTL a powerful brand with which to punt internet services beyond its existing cable network.

Simon Duffy, NTL chief exec, said "We are delighted to have successfully completed the acquisition of Virgin.net. I am confident Virgin.net will accelerate our growth by giving us access to new market segments, thereby complementing our strategy of extending our network through local loop unbundling." ®

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