Virgin Media Eyes Pipex Acquisition
Posted: 21st Mar, 2007 By: MarkJ
Though a sale is only one of the options open to Pipex, that hasn't stopped Virgin Media pitting itself as a front runner for the £335m broadband ISP:
The Daily Telegraph newspaper notes that Virgin Media is looking to expand its coverage. Typically buying an existing ADSL provider may be a cheaper way of doing that than rolling out new cable. Presently Virgin is still mulling over the idea and all sides have refused to comment.
Pipex's adviser, UBS, is believed to have asked for first-round bids by Friday for the business.
It hired the investment bank to consider its strategic options after receiving several expressions of interest, one of which is understood to have come from Virgin Media, the former NTL/Telewest. The other significant approach is thought to be from BT Group.
It hired the investment bank to consider its strategic options after receiving several expressions of interest, one of which is understood to have come from Virgin Media, the former NTL/Telewest. The other significant approach is thought to be from BT Group.
The Daily Telegraph newspaper notes that Virgin Media is looking to expand its coverage. Typically buying an existing ADSL provider may be a cheaper way of doing that than rolling out new cable. Presently Virgin is still mulling over the idea and all sides have refused to comment.
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