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NTL ups offer for Virgin Mobile

Discussion in 'General Discussions and Lounge' started by temi, Jan 17, 2006.

  1. temi

    temi Facilitator Webmaster

    NTL and Virgin Group are still in discussions
    NTL has raised its takeover offer for Virgin Mobile to £961m ($1.7bn) in an effort to break the impasse over the proposed deal.
    The two companies are in talks about the improved offer after Virgin Mobile rejected NTL's original £871m bid.

    Sir Richard Branson, Virgin Mobile's main shareholder, has indicated that he would be prepared to receive both cash and NTL shares in a deal.

    This could see him receiving less than minority shareholders.

    full story: news.bbc.co.uk/1/hi/business/4618744.stm

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