Feeds

Branson ready to break Virgin Mobile/NTL stalemate

Wants to do a deal

Website security in corporate America

NTL's take-over of Virgin Mobile could be back on track again even though the cellco has "unanimously" rejected the cableco's approach.

Last week Virgin Mobile rejected NTL's £817m bid for the business saying it wasn't enough. On Friday NTL responded saying £817m was a fair price representing "better value for all Virgin Mobile shareholders" giving the impression that the deal was deadlocked.

But the stalemate looks likely to be broken by Sir Richard Branson, who owns 72 per cent of the cellco. The FT reports that Branson is prepared to take a lower price for his share of the business giving NTL more room to up the amount Virgin Mobile's minority shareholders will receive.

The upshot is that NTL is unlikely to pay much more for the business than it's original offer and Virgin Mobile's minority shareholders get the higher price they've been holding out for.

And Branson? Well, the paper reports that he is angling for increased licence fee payments for NTL which plans to rebrand under the Virgin livery.

And he still gets a share of a massive media business - with some nine million punters that offers TV, phone, broadband and mobile telephony - that is better placed to rival satellite broadcaster Sky. ®

Reducing the cost and complexity of web vulnerability management

More from The Register

next story
Hey, Scots. Microsoft's Bing thinks you'll vote NO to independence
World's top Google-finding website calls it for the UK
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Israeli spies rebel over mass-snooping on innocent Palestinians
'Disciplinary treatment will be sharp and clear' vow spy-chiefs
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
OECD lashes out at tax avoiding globocorps' location-flipping antics
You hear that, Amazon, Google, Microsoft et al?
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.
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.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.