Feeds

NTL confirms Virgin Mobile buy-out

At last...

Top 5 reasons to deploy VMware with Tegile

NTL has finally confirmed that it is to acquire Virgin Mobile as part of a master plan to create a giant communications company to take on pay TV outfit Sky and incumbent telco BT. The deal values Virgin Mobile at £962.4m - almost £150m more than was originally rejected by the Virgin Mobile board in December last year.

As part of the deal, NTL (which is already merging its operations with Telewest) has entered into a 30 year exclusive brand licence with Virgin Enterprises Limited to use the Virgin brand for the cableco's consumer business.

Not only does NTL reckon the deal is good news for shareholders, it predicts that it will help transform the operations from a triple-play cable provider into "a national entertainment and communications company, harnessing the powerful Virgin consumer champion brand".

This increase in size will also enable the business to "compete more effectively with the large incumbents in the UK telecommunications market" as it looks to develop "converged fixed and mobile telephony devices, and video and voice services".

And with a shiny new brand with Virgin's appeal, the group is hoping it will be able to increase consumer numbers and reduce churn.

NTL chief exec James Mooney said: "Central to today's announcement is our strong belief that offering a quad-play underpins true media convergence, and offering high quality communications services will, we believe, appeal to existing subscribers of the enlarged business, as well as new customers. There is a natural appeal for mobile, telephony, broadband and television content and ntl is now truly unique in its mass market product offering." ®

Internet Security Threat Report 2014

More from The Register

next story
You! AT&T! The only thing 'unlimited' about you is your CHEEK, growl feds
Man, we did everything but knock on their doors - carrier
The DRUGSTORES DON'T WORK, CVS makes IT WORSE ... for Apple Pay
Goog Wallet apparently also spurned in NFC lockdown
EE launches 150Mbps '4G+' in the heart of London
LTE-A – Faster phones for Hoxton Hipsters
Watch out, Samsung and Apple: Xiaomi's No 3 in smartphones now
From obscurity to selling 19 million mobes a quarter
Brazil greenlights $200m internet cable to Europe in bid to outfox NSA
Only one problem: it won't make the slightest difference. And they know it
Wanna hop carriers with your iPad's Apple SIM? AVOID AT&T
Unless you want your network-swapping tech disabled for good, that is
Knocking Knox: Samsung DENIES vuln claims, says mysterious blogger is a JOKER
But YES, system does store encryption key on the device
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
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.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
Mitigating web security risk with SSL certificates
Web-based systems are essential tools for running business processes and delivering services to customers.