NTL May Raise the Stakes for Virgin Acquisition

12:47 am on December 9, 2005 | Category: Business

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The board of British cable company, NTL will be meeting in the New York today (Dec. 9) to decide whether or not to submit another bid for Virgin Mobile, after their original offer was rejected on Wednesday.

Virgin is reportedly hoping for something in the vicinity of £4/share, and was unwilling to accept the previous offer of £3.23. The recent media frenzy surrounding the company has caused its shares to rise significantly, with their market value now setting at £3.55.

NTL’s CEO, Simon Duffy will be leading today’s quarterly board meeting, in which the company’s future bidding strategy for Virgin Mobile will undoubtedly be one of the main topics of discussion.

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