It seems that Richard Branson is to sell Virgin Media. It’s being reported in several places that, private equity group Carlyle have made an initial offer of around $11.1 billion (£5.5 billion), and they will take on the £6 billion of debt.
Not bad considering Branson bought NTL for £962 million and apparently spent around £25 million on the Virgin Media relaunch.
I suspect that had Virgin Media’s dispute with Sky not lasted quite so long the business would be worth more, perhaps even profitable.
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