Liberty Global prepares bid for UK's Virgin Media - FT

NEW YORK Tue Feb 5, 2013 2:08am GMT

Chairman of Liberty Media John Malone attends the Allen & Co Media Conference in Sun Valley, Idaho July 12, 2012. REUTERS/Jim Urquhart

Chairman of Liberty Media John Malone attends the Allen & Co Media Conference in Sun Valley, Idaho July 12, 2012.

Credit: Reuters/Jim Urquhart

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NEW YORK (Reuters) - U.S. billionaire John Malone's cable group Liberty Global (LBTYA.O) is preparing a bid for cable company Virgin Media Inc VMED.O, the Financial Times reported on Monday, citing several people familiar with the matter.

Virgin Media -- the UK's second-largest pay television operator according to the FT -- has a market capitalization of around $10.4 billion (6.6 billion pounds) as of Monday's closing price.

A bid for could be announced in coming days, the FT said.

Liberty Global and Virgin Media could not be immediately reached for comment.

(Reporting By Michael Erman; Editing by Richard Pullin)

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