Virgin Looks Beyond Private Equity Buyers

16 July 2007

LONDON: US-controlled British cable company Virgin Media has reportedly appointed a second investment bank in an attempt to find potential buyers other than the private equity groups that currently prowl its perimeter.

The company, which operates solely in Britain, has now hired UBS to attract interest from international cable firms. Goldman Sachs, meantime, is reviewing "strategic" alternatives following a $23 billion (€16.6bn; £11.3bn) approach from Carlyle Group.

All concerned remains zip-lipped, but it is understood UBS has looked at potential partners from the ranks of US cable giants Comcast and Time Warner Cable as well as Liberty Media, which owns cable properties across Europe.

Data sourced from Financial Times online; additional content by WARC staff