Ntl:Telewest to acquire Virgin Mobile in $1.7 billion deal

MUMBAI: In another major buy out deal in the global telecom arena, UK cable company Ntl:Telewest has agreed to buy Virgin Mobile for 984.9 million pounds ($1.7 billion).

The new company will operate under the Virgin brand following a 30 year licensing agreement.

Richard Branson, whose Virgin Group owns 71.2 per cent of Virgin Mobile, has agreed to receive a mix of cash and Ntl:Telewest stock worth 378 pence per share for his stake, plus a licence fee for the Virgin brand worth about 9 million pounds a year.

Reportedly, Branson will be the largest shareholder in the combined company with a stake of about 10 per cent, and he will have a representative on the Ntl:Telewest board.

Virgin Mobile's operating business will continue to be led by members of Virgin Mobile's current management team, and it is intended that a marketing director from Virgin will join Ntl:Telewest, bringing Virgin's brand expertise to the Ntl:Telewest management team.

Latest Reads

DishTV launches Kids Active in partnership with Shemaroo

Value added services has been a focus area, a clear differentiator and an integral part of our offering. By not leaving any stone unturned in order to provide a wide range of content and services to its subscribers, DishTV Asia’s largest DTH brand has partnered with Shemaroo, one of India’s leading...

DTH DTH Operator
DishTV takes total HD channel count to 55; adds regional HD channels

Catering to the demand of regional viewers and bringing them under the High Definition umbrella, DishTV, Asia’s largest DTH service provider, has added four new regional HD channels to its HD offerings. With addition of these channels, DishTV encourages regional language subscribers to opt for HD...

DTH DTH Operator
Pay and play multi-genre Music+ on Tata Sky

DTH player Tata Sky launched the "nation's first service with four music genres on a pay TV platform" in Mumbai on Wednesday. Christened 'Music+', it has been launched in partnership with digital entertainment company Hungama.

DTH DTH Operator
DD FreeDish to roll out call centre

It’s getting customer-focused. Almost as if inspired by the services provided by the private DTH providers such as Tata Sky, DishTV, Videcon d2h, Airtel Digtial TV, and Sun Direct, the Doordarshan-promoted free TV provider DD FreeDish is getting set to launch its call centre facility.

DTH DTH Operator
DD FreeDish e-auction put off due to technical errors

In probably what is a first, DD FreeDish’s e-auction was scrapped yesterday. The reason: technical glitches on the site of the auctioneer C1 India Pvt Ltd.

DTH DTH Operator
DTH players roll out festival offers

MUMBAI: Brands are bursting Diwali offers. As the festive season draws closer, all the D2H players, one after the other, are extending lucrative offers to consumers to buy their products and subscribe to their service. Tata Sky had run a promotional offer between 8 and 21 August on its tenth...

DTH DTH Operator
DishTV, Shemaroo tie up for 'Comedy Active'

DishTV is all set to expand its bouquet of value added services (VAS). DishTV has partnered with Comedywalas, a division of Shemaroo Entertainment, to launch a new service called ‘Comedy Active’.

DTH DTH Operator
'Love Cinema Live Cinema' with Tata Sky's new service

If you are a passionate movie-lover but miss screenings or are closely related to some aspect of filmmaking which only few are privy to, you need not worry at all as Tata Sky has brought in a solution. After brainstorming for a year, the DTH player has launched a first-of-its-kind service in...

DTH DTH Operator
IDOS 2016: The DD FreeDish alternative for TV channels & advertisers

GOA: Has the pubcaster DD’s free to air platform FreeDish emerged as a viable proposition for advertisers? What are its expansion plans, going forward? These were some of the questions posed by the Indiantelevision.com founder, CEO & Editor in chief Anil Wanvari at IDOS 2016 in Goa during the...

DTH DTH Operator

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories