Feeds

Branson ready to break Virgin Mobile/NTL stalemate

Wants to do a deal

Boost IT visibility and business value

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. ®

Boost IT visibility and business value

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
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.