Branson Ready To Break Virgin Mobile/NTL Stalemate

This is interesting… after NTL made a bid for Virgin it was rejected by Virgin’s board, and NTL said it wasn’t going to increase the bid. Richard Branson, who owns 72% of Virgin, is keen to break the stalemate — keen enough that he “is prepared to take a lower price for his share of the business giving NTL more room to up the amount Virgin Mobile’s minority shareholders will receive”. This is based on a story in FT (sub required), which also reports that Branson is angling for increased licence fee payments for NTL which plans to rebrand under the Virgin name.

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