Feeds

Virgin Media mulls takeover approach

Cable network on the block again

Choosing a cloud hosting partner with confidence

Virgin Media, bowed by its protracted legal tussle with Sky, has again become the target of a takeover approach by private equity carpetbaggers.

Reports say the Virgin Media board is considering a $10bn (about £4.9bn) punt from the Carlyle Group, a consortium which also made an approach last year, but was rebuffed.

This time round, Richard Branson, who bagged the largest share in the firm when NTL:Telewest bought Virgin Mobile, is now said to back a sale, though would hang on to his holding. His Virgin Group retains control over the Virgin brand, which was slapped on NTL:Telewest at a cost of £25m.

Carlyle's offer values Virgin Media at between $33 and $35 per share. It closed on Nasdaq on Friday at $24.37. Other private equity funds are also considering making a bid, meaning the sale would enter an auction process that would take several weeks.

Virgin's bosses reportedly reckon that delisting the firm would allow more dynamic moves to stimulate growth, without the scrutiny of the quarterly updates demanded by the stock market.

A private equity deal for Virgin Media would rank as the second biggest ever, after the sale of high street stalwart Boots, which went for £11.1bn in May. The boom in the sector means any large company perceived as lacking direction is likely to be targeted. ®

Top 5 reasons to deploy VMware with Tegile

Whitepapers

10 ways wire data helps conquer IT complexity
IT teams can automatically detect problems across the IT environment, spot data theft, select unique pieces of transaction payloads to send to a data source, and more.
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.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
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 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.