Virgin Media buyout denied
12th March 2008
Recent reports that Virgin Media was to be targeted by a consortium of private investors have been denied.
The news broke in the Observer on Sunday March 9th, when the publication said that it had been privy to a document outlining proposals for a takeover bid by a number of private equity firms.
It was reported that investors planned to approach Virgin Media with an offer of between $6 billion (£2.97 billion) and $7.5 billion, which would give control of the company’s broadband, TV and phone services.
The publication noted that it was thought investors would look to take advantage of Virgin Media’s low market price.
However, a number of firms named as interested parties have since rejected the claims, informing Reuters that such a move would not be made.
According to the news agency, a source said that "a bid was not feasible in the current climate", adding that the group had not discussed the takeover since June of last year.
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