NTL Poised to Confirm £960m Bid for Virgin Mobile

04 April 2006

    LONDON - US cable firm NTL, whose operations are confined to the UK, is expected to make its recommended offer for Virgin Mobile this week.
    The cellphone operator, 71%-owned by publicity-addicted entrepreneur Sir Richard Branson, is likely to be valued at up to £960 million ($1.67bn; €1.38bn).
    Insiders say Branson will take £125m in cash plus an estimated stake of 14% in the enlarged NTL - thereby making him the enlarged firm's biggest single shareholder.