UK: NTL to Acquire Virgin Mobile For $1.7B
A Reuters newswire article by Adam Pasick and Santosh Menon, via Yahoo! News, reports that:
UK cable company NTL has agreed to buy Virgin Mobile in a deal that could be worth up to 984.9 million pounds ($1.7 billion), creating a "quadruple-play" mobile, fixed-line, broadband and TV service under the Virgin brand.More here.
Billionaire entrepreneur Richard Branson, whose Virgin Group owns 71.2 percent of Virgin Mobile, has agreed to receive a mix of cash and NTL stock worth 378 pence per share for his stake, plus a license fee for the Virgin brand worth about 9 million pounds a year.
posted by Fergie @ 4/04/2006 06:23:00 AM
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