Four private equity firms are reportedly planning to mount a bid to acquire Virgin Media, the cable TV, broadband and mobile firm that came out of the merger of NTL, Telewest and Virgin Mobile. According to The Observer, equity outfits Blackstone, Cinven, KKR and Providence Equity are getting together an offer that could go as high $7.5 billion. Presumably that would mean buying out the Virgin group's share also - though whether the bidders would want to keep the Virgin name, or are, in fact, more interested in the firm's increasingly valuable (in this 'give me the speed' internet era) optical fibre cable network, remains to be seen.
Mar 11, 2008
•
1 min read
Private equity firms reportedly consider bid for Virgin Media
According to The Observer, four private equity firms are planning a bid for Virgin Media that could reach $7.5 billion.