Briefs: NTL's $1.4B bid for Virgin Mobile

December 5, 2005

NTL said Monday it would pay up to $1.4 billion to acquire British wireless carrier Virgin Mobile.

If the British cable television group's bid goes through, Virgin Chief Executive Richard Branson will be the company's single-biggest shareholder with 14 percent of total shares, having a 72-percent stake in Virgin Mobile.

The plan is to offer Internet access and television viewing as well as fixed and mobile-phone lines under a single package, which will be the first of its kind in Britain.

Copyright 2005 by United Press International

Explore further: Virgin Media to launch Spotify service for subscribers

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