Time not right for Virgin Media bid

12 Mar 2008

A consortium of private equity firms previously named as being interested in a takeover bid for UK-based cableco Virgin Media, are reported by Reuters news agency as having no immediate plans for any such action. The weekend report, originally published by British paper The Observer, is refuted by an anonymous source speaking to Reuters. The source explained that although the consortium members had been considering a bid in June 2007, such a bid is not feasible in the current economic climate.

United Kingdom, Virgin Media