NTL and Virgin Talk About a Merger
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NTL has confirmed it has approached Virgin Mobile over merging the firms. It will be interesting to see what happens on this one as NTL and Virgin would become a strong single company if merged correctly.
Virgin confirmed it had received an approach from NTL that “may or may not lead to a formal offer being made for the company”. If the deal goes ahead NTL will use the Virgin brand to offer internet access, TV and fixed line and mobile telephony. Virgin Mobile shareholders would be offered 0.09298 of NTL shares for each Virgin one, or 323p per share instead, valuing the firm at more than 800m.
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