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Wireless Federation » Virgin Media confirms takeover approach

Virgin Media confirms takeover approach

  • July 3rd, 2007
  • 7:40 am

UK cable operator Virgin Media has confirmed that the company received a takeover approach. The unnamed bidder has made the offer dependent on its identity not being revealed prior to the public announcement of the offer terms. Virgin Media has yet to start negotiations with the potential suitor and any offer still depends on accounts due diligence. Earlier media reports suggested that the private equity firm the Carlyle Group had approached the cable and mobile operator with an offer of around GBP 5 billion. Virgin Media also confirmed that prior to receiving the takeover approach, the company had already hired Goldman Sachs to look at its strategic options, including a possible sale of the group

   


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