Reports in British newspapers are Providence Equity Group, a private equity firm, is getting ready to make a $15 billion bid for Virgin Media.
Most of the interest in Virgin Media comes from its battle with BSkyB which has resulted in the loss of customers in the first quarter of 2007 and more are expected to leave as the fight continues.
BSkyB took their basic cable packages with popular programs like "24" and "Lost" off of the Virgin Media Network.
Virgin Media was created early this year from the merger of Telewest, NTL and Virgin's mobile phone unit.
Providence is reportedly in talks with other private equity firms Blackstone Group, Cinven and Kohlberg Kravis Roberts on offering a bid that would be as high as $31 a share.
OMG. Look what I found! A Meet and Greet with Richard Branson and Elvis Costello".How cool is this, I never thought I would ever have a chance like this. If you want a chance to bid on this visit this link. www.ebay.com/virginunite. There is this item up for grabs and many others. I think the auction page says that new items go up ever week too.
Posted by: Miranda | October 30, 2007 11:15 AM | Permalink to Comment