News / Business
Virgin Mobile and NTL takeover talks continue
On 2 February 2006, Virgin Mobile said its talks with cable operator NTL about a possible takeover remained in progress. The update arrived with quarterly figures that the company described as showing higher service revenue, customer spending and active users.
A proposal still being negotiated
The source says Virgin Mobile’s board had rejected an earlier NTL approach as undervaluing the company, and that a later proposal exceeded 900 million pounds. Neither side had announced a completed transaction in this report, so its central fact is the continuing negotiation.
Operating figures in context
Virgin Mobile reported active users of 4.3 million and year-on-year increases in revenue and average revenue per user for the quarter to December. These are company figures reported in early 2006 and should not be treated as current performance or a forecast of the deal’s result.