Virgin Media confirms approach by Liberty Global
Global cable company to bid for UK operator
By Gaurav Sharma | CFO UK | Published 10:41, 05 February 13
UK’s Virgin Media has confirmed that it was the subject of an approach by Liberty Global about a possible takeover bid.
In a statement on Tuesday, the company said, "Virgin Media confirms that it is in discussions with Liberty Global, a leading international cable company, concerning a possible transaction. Any such transaction would be subject to regulatory and other conditions."
Neither party has given details about the discussions. Liberty Global, a cable group fronted by businessman John Malone, is presently active in 13 countries, including 11 in Europe.
Virgin Media, which touts itself as a UK quad-play (cable TV, internet, landline and mobile telephony) operator, is valued at US$10.6 billion. It was created out of the merger of NTL, Telewest and Virgin Mobile.
Share:Facebook Twitter Google Plus Stumble Upon Reddit Share This Email this article
Cyber threats are increasing in scale, scope and frequencymore ..
Mobile operator claims 75 percent of UK population now covered by its 4G networkmore ..
Users can shoot longer videos and then play them back up to 12 times fastermore ..
Amazon is about to buy Twitch, a video game live-streaming service, according to reports.more ..
OPINION: where next for the CFO’s big data budget?more ..
Privacy advocates agree individuals need to take responsibility for their own privacymore ..