Virgin Mobile U.K. confirms NTL bid
The board of directors of Virgin Mobile Holdings in the U.K. confirmed early this morning that the company had received a takeover bid from U.K. cable TV giant NTL, the same company which two month ago announced a plan to acquire Telewest to create the second-largest telecom company in the region.
Acquiring Virgin Mobile would allow NTL in-house capability to offer quadruple play services to its customers, and according to analysis from Ovum, would give Virgin Mobile stronger ties to TV and entertainment content that it could offer on a wireless basis. Reuters reported the Virgin bid as being valued at about $1.4 billion (U.S.)
Ovum also noted that NTL's competitive inspiration to do such a deal might be coming primarily from BSkyB, the U.K. satellite TV operator which recently agreed to acquire broadband ISP EasyNet. Long-standing telco BT also is in the midst of launching its own wireless MVNO.
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