Looks the same, run the same, different name above the door
By Jo Best
Published: 30 September 2004 15:50 GMT
NTL has upped its stake in Virgin.net to become sole owner of the ISP.
NTL had previously owned 49 per cent of the ISP and has now nabbed the remaining 49 per cent from Virgin Media as well as snapping up other assorted interests from Virgin.net's management old and new. No price was disclosed for the deal, which is subject to approval from the Irish authorities.
Virgin.net was originally created in 1996 as a joint venture between the two companies and now numbers nearly 600,000 customers, while NTL has one million broadband customers.
Virgin.net will continue to operate under the same name and be run by the same management.
Rumours first surfaced in 2001 that NTL was to become the sole owner of Virgin.net, when Branson’s ISP hired Lehman Brothers to find a buyer for it.
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