Virgin and NTL to Merge ?
Posted: 04th Dec, 2005 By: Keith
News that NTL and Virgin may be about to merge and create a UK Media and Telecoms giant with over 9 million customers has been announced today. The deal would be worth £4.5bn and NTL are expected to rename to the Virgin Brand.
There are some mixed stories, Reuters website states "Cable company NTL is in talks to buy Virgin Mobile in a deal that would create a powerhouse TV, telecommunications and mobile phone company under the Virgin brand, according to sources close to the talks."
However on the BBC news site it states "Virgin Mobile, the telecoms company owned by Sir Richard Branson, is in talks to merge with cable TV firm NTL"... "Sir Richard is set to swap his majority holding in Virgin Mobile for a stake in NTL"
It's unclear at present who is buying who and why NTL would rebrand their business. How this will affect customers of both companies as well is yet unknown.
More @ BBC News and Reuters
There are some mixed stories, Reuters website states "Cable company NTL is in talks to buy Virgin Mobile in a deal that would create a powerhouse TV, telecommunications and mobile phone company under the Virgin brand, according to sources close to the talks."
However on the BBC news site it states "Virgin Mobile, the telecoms company owned by Sir Richard Branson, is in talks to merge with cable TV firm NTL"... "Sir Richard is set to swap his majority holding in Virgin Mobile for a stake in NTL"
It's unclear at present who is buying who and why NTL would rebrand their business. How this will affect customers of both companies as well is yet unknown.
More @ BBC News and Reuters
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