Feeds

NTL ups bid for Virgin

They're chatting again

Designing a Defense for Mobile Applications

NTL's buy-out is back on again - well, for the time being at least. Late on Friday NTL - which has already been cleared to swallow the UK's number two cableco Telewest - upped its offer for the mobile business in a deal reported to be worth £930m.

According to reports, NTL is prepared to cough up 372p a share to Virgin Mobile's minority shareholders with Sir Richard Branson agreeing to accept a lower amount for his 72 per cent stake of the business.

In December NTL's £817m bid for the cellco was "unanimously rejected" by the board of Virgin Mobile who claimed it "undervalued" the business. It remains to be seen whether this improved offer satisfies the demands of those who've obstructed the deal so far.

But in a statement Virgin Mobile said: "Following a revised approach from NTL, Virgin Mobile is in preliminary discussions with NTL which may or may not lead to a formal offer being made for the entire issued share capital of Virgin Mobile."

Should the deal go ahead the new business would be rebranded under the Virgin livery creating a media giant with some ten million punters offering TV, fixed line phone, internet and mobile services under one roof. Coupled with NTL's take-over of cableco Telewest as well, the enlarged group would make a sizeable rival to Sky's satellite service. ®

The smart choice: opportunity from uncertainty

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Want to beat Verizon's slow Netflix? Get a VPN
Exec finds stream speed climbs when smuggled out
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
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.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.