Feeds

NTL confirms Virgin Mobile buy-out

At last...

Internet Security Threat Report 2014

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." ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Same old iPad? NO. The new 'soft SIMs' are BIG NEWS
AppleSIM 'ware to allow quick switch of carriers
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Brits: Google, can you scrape 60k pages from web, pleeease
Hey, c'mon Choc Factory, it's our 'right to be forgotten'
Of COURSE Stephen Elop's to blame for Nokia woes, says author
'Google did have some unique propositions for Nokia'
It's even GRIMMER up North after MEGA SKY BROADBAND OUTAGE
By 'eck! Eccles cake production thrown into jeopardy
Mobile coverage on trains really is pants
You thought it was just *insert your provider here*, but now we have numbers
Don't mess with Texas ('cos it's getting Google Fiber and you're not)
A bit late, but company says 1Gbps Austin network almost ready to compete with AT&T
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.