Briefs: Virgin Mobile rejects NTL's $1.4B offer

Dec 08, 2005

Virgin Mobile Thursday rejected a takeover bid from cable group NTL that proposed to buy out the company for $1.4 billion.

"The board has concluded that the potential offer materially undervalues Virgin Mobile," the wireless arm of the Virgin group led by business tycoon Richard Branson said in a news release.

By acquiring Virgin Mobile, NTL had been hoping to be the first British telecommunications group to offer fixed-line and mobile operations as well as Internet access and cable viewing under a single company.

Copyright 2005 by United Press International

Explore further: GoGlove wearable aims to control life's soundtracks

add to favorites email to friend print save as pdf

Related Stories

Tech execs running the commercial space race

Nov 02, 2014

Richard Branson's Virgin Galactic company is reeling from the loss of SpaceShipTwo, which crashed in California's Mojave desert on Friday, killing one of its pilots and seriously injuring the other. Branson, ...

Google's plan for internet access from the sky

Jun 16, 2014

News that Google representatives are in talks with Richard Branson's Virgin Galactic are seen as further evidence the web company is looking to set up a series of low-orbit satellites to help connect more peopl ...

Recommended for you

GoGlove wearable aims to control life's soundtracks

1 hour ago

Technology creatives are seeing the key attraction in wearables as being in solutions that save the user from fumbling around with the phone to make app adjustments or changes, or from repeatedly taking it ...

Amazon cuts Fire phone price to ignite sales

1 hour ago

Amazon on Wednesday slashed the price of Fire mobile phones that stalled after launch early this year, becoming a drag on the US online retail titan's bottom line.

Thanksgiving travel woes? There's an app for that

2 hours ago

Traveling by plane, train or automobile can be a headache. Mixing in Thanksgiving can make it a throbbing migraine. Technology provides some pain relief in the form of apps to let you know which roads are ...

US agency threatens to act against air bag maker

2 hours ago

A dispute between U.S. safety regulators and air bag maker Takata Corp. escalated Wednesday when the government threatened fines and legal action if the company fails to admit that driver's side air bag inflators ...

Netflix sues Yahoo CIO for alleged kickbacks

3 hours ago

Netflix is suing a former company vice president who is now chief information officer at Yahoo, accusing him of receiving money from vendors he hired to work with the video streaming company.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.