Virgin ‘plans £4.5bn NTL merger’
Virgin Mobile, the telecoms company backed by Sir Richard Branson, is in talks to merge with cable TV firm NTL.
The deal would create a UK media and telecoms giant worth £4.5bn ($7.8bn), with more than nine million customers.
Sir Richard is set to swap his majority holding in Virgin Mobile for a stake in NTL, sources confirmed to the BBC.
The combined company is expected to be renamed Virgin and would see Sir Richard challenge Rupert Murdoch‘s dominant UK satellite TV firm BSkyB.
Source: BBC.
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