Institutional investors in Virgin Mobile are reportedly seeking at least 400p per share from cable group ntl having rejected ntl's initial offer of 323p.
Ntl is said to be considering its next move after Sir Richard Branson said last month he was confident a deal could be reached. But Branson—who owns 72% of Virgin Mobile—appears to be at odds with Virgin Mobile's institutional investors. They reportedly want much more than the 360p-a-share deal that Branson would apparently accept.
According to The Sunday Telegraph, ntl will return to the negotiating table this week.
If the deal is successful, ntl will take on the Virgin brand name and offer customers a 'quadruple play' of fixed and mobile telephony plus digital television and high-speed internet access.
Lovelace Consulting | 10.01.2006