Virgin Media Targeted By £7.5bn Private Equity Bid
Posted: 22nd May, 2007 By: MarkJ
Various reports are claiming that a US-based private equity consortium, which is headed by 'Providence Equity Partners', may make a £7.5 billion bid for the UK cable giant Virgin Media.
The increased interest has occurred following a downturn in Virgin's recent financial results. It's worth pointing out that bids by private equity consortiums are not uncommon in the UK telecoms market. BT and Virgin have both seen plenty of historic interest.
Currently theres nothing to suggest that this latest interest will turn into anything tangible. Virgin is more likely to try and fix the business internally before fully considering a sale, although we could be wrong.
The increased interest has occurred following a downturn in Virgin's recent financial results. It's worth pointing out that bids by private equity consortiums are not uncommon in the UK telecoms market. BT and Virgin have both seen plenty of historic interest.
Currently theres nothing to suggest that this latest interest will turn into anything tangible. Virgin is more likely to try and fix the business internally before fully considering a sale, although we could be wrong.
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