You are here: silicon.com > Networks > Broadband & ISPs

Virgin Mobile-NTL deal to go through this week?

Board looks set to give takeover thumbs-up

Tags: ntl, virgin mobile, virgin

By Jo Best

Published: 20 February 2006 13:35 GMT

NTL's attempted takeover of Virgin Mobile could be going ahead as early as this week.

According to reports, Virgin Mobile's board is now ready to accept a revised £900m offer for the MVNO (mobile virtual network operator). The board rejected an earlier offer for the operator at 323p per share.

Under the new deal, Virgin head Sir Richard Branson will receive 349p per share for his majority stake in the company, with the minority shareholders receiving 372p per share.

It's thought the final deal will be announced within the course of this week or early next week, with the lawyers acting for the pair now putting the finishing touches to the agreement, newspapers reported.

The Financial Times also reported that Virgin Mobile's CEO Tom Alexander has been persuaded to stay on once the takeover has been agreed. Virgin Mobile's current management will remain in place and the operator will act as a separate unit within NTL, the paper said.

Add comment

Print story with

Email story

NTL could do with buying out Virgin Holidays as we...
V.bitter Virgin Holidays Customer

Click here to see all

BT's mobile TV: More than Virgin's

NTL and Virgin still chewing the takeover fat

Wanted: New friend, must like mobile TV, says O2

NTL raids Branson's piggybank for new Virgin bid

NTL and Virgin still chewing the takeover fat

In silicon.com

Commentary

Natasha Lomas Exclusive: Jimmy Wales on what's next for Wikipedia Why Wikipedia needs geeks and why a life unplugged is unthinkable

Peter Cochrane Peter Cochrane's Blog: United breaks guitars? Customer service has changed forever

Latest News

Make haste with the analogue-digital switch, urges EC

'UK must up privacy safeguards following Phorm'

Full steam ahead for plans to cut off file-sharers

Keeping IT green in tough times

iPhones unshackled, IT wages revealed and outsourcing explained

Jobs

DV Cleared Backup Operator/Administrator

There is a requirement for a Backup Operator/Administrator for a client based in London. Candidates will be part of the Storage and Backup Technology ...

Project Manager - Tour Operator

Our client a leading supplier of technology solutions to the Travel Industryand looking for a Project Manager with a tour operator industry ...

Computer Operator with French

My client in the Czech Republic have a vacancy for a Computer Operator with French. Job descriptionThis role is responsible for monitoring, ...

Special Report Focus

Agenda Setters 2009
Welcome to the ninth annual Agenda Setters poll – silicon.com's list of the top 50 most influential individuals in the technology and IT industries, from techies and CIOs to entrepreneurs and business leaders. Find out more in our latest special report.