Rumours seem to be spinning around this weekend that NTL, the UK's leading cable group which is planning to merge with Telewest, is in discussions to buy Richard Branson's Virgin Mobile.
Branson owns 72% of Virgin Mobile. Under the terms of the deal, Branson would trade his Virgin Mobile shares for NTL stock, becoming the cable company’s largest shareholder with a stake of about 14%, it seems.
This is yet another sign of media, telecomms and the internet converging. And is Branson likely to allow NTL to use the all powerful Virgin brand across all the NTL offerings? So, the UK could see the awakening of Virgin Cable, Virgin Telephony alongside Virgin Mobile.
This could be a very smart move by Branson. It may well make sense for Virgin Mobile UK. I'm a little more concerned about what happens to Virgin Mobile in countries outside the UK? Would they remain independent? I guess we'll find out soon. And who said the media conglomerate was dead. Oh, we did!! (see businessuncut daily!).
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