Virgin Media Weighs a Takeover Approach

NTL Inc. in 2005 acquired Telewest Global in a deal that fused the U.K.'s only two significant-size cable operators. Mr. [Richard Branson]'s Virgin Group later acquired its holding as part of a deal which saw NTL acquire Virgin Mobile, which Mr. Branson's Virgin Group controlled. The...

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Bibliographic Details
Published inThe Wall Street journal. Eastern edition
Main Author Jessica Hodgson, Marietta Cauchi and Henny Sender
Format Newspaper Article
LanguageEnglish
Published New York, N.Y Dow Jones & Company Inc 03.07.2007
EditionEastern edition
Subjects
Acquisitions & mergers
Bids
Corporate planning
Divestiture
Equity
Internet access
Private equity
Service introduction
Tender offers
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Summary:NTL Inc. in 2005 acquired Telewest Global in a deal that fused the U.K.'s only two significant-size cable operators. Mr. [Richard Branson]'s Virgin Group later acquired its holding as part of a deal which saw NTL acquire Virgin Mobile, which Mr. Branson's Virgin Group controlled. The new company agreed to license the Virgin brand from Mr. Branson. A deal could put [Carlyle] and possibly other private-equity companies into direct competition with British Sky Broadcasting Group PLC, the U.K.'s dominant pay-television provider, in which News Corp. is a 39.1% stockholder. (News Corp. has bid $5 billion to buy Dow Jones & Co., publisher of The Wall Street Journal.) Virgin Media is losing customers to peers such as BSkyB and BT Group PLC in the U.K.'s cutthroat market for high-speed Internet access and pay television. Carlyle has experience in wireless, broadband and fixed-line.
ISSN:0099-9660