Virgin Mobile independent shareholders rebut Branson price claims

9 Dec 2005

Virgin Mobile has issued a terse rebuttal against its majority shareholder Richard Branson after the Virgin Group mogul claimed his fellow shareholders in the cellco were holding out for an extra GBP25 million from suitor ntl. ntl’s GBP817 million takeover bid for Virgin Mobile was rejected by its minority shareholders earlier this week, apparently against Branson’s wishes, leading him to claim in a radio interview that: ‘we’re talking about only GBP25 million difference between what the independent shareholders are talking and what ntl have offered… my feeling is that they will be able to reach a deal’. Virgin Mobile immediately issued a statement saying that it had only considered ntl’s initial offer and that it ‘did not consider any other price, nor did it solicit another price’.

United Kingdom, Virgin Media, Virgin Mobile UK