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Branson Sells Virgin Media?

on July 2nd, 2007

virginmediaIt 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.

Carlyle Group’s chairman is Lou Gerstner, famous for turning around IBM. The group has $58.5 billion in equity under it’s management, so it’ll still have plenty left to develop Virgin Media.

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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