Ntl launches GBP 962 mln bid for Virgin Mobile

Tuesday 4 April 2006 | 08:54 CET | News

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UK cable operator ntl has launched a bid for Virgin Mobile valuing the company at GBP 962 million. Virgin shareholders can choose from three offers: GBP 3.72 cash per Virgin share, 0.23245 ntl share for each Virgin share or a combination of GBP 0.67 cash and 0.18596 ntl shares. The deal allows ntl, which recently merged with UK rival Telewest, to add mobile services to its triple-play of voice, internet and TV. The company will also get a 30-year exclusive licence to the Virgin brand. Virgin's board is expected to recommend the bid to shareholders and 71-percent shareholder the Virgin Group

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Categories: Mobile & Wireless
Companies: Virgin Mobile
Countries: United Kingdom
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