Briefs: Virgin Mobile rejects NTL's $1.4B offer
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
Citation:
Briefs: Virgin Mobile rejects NTL's $1.4B offer (2005, December 8)
retrieved 19 September 2024
from https://phys.org/news/2005-12-virgin-mobile-ntlaposs-14b.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no
part may be reproduced without the written permission. The content is provided for information purposes only.
