Liberty Global prepares bid for UK's Virgin Media: FT
NEW YORK (Reuters) - U.S. billionaire John Malone's cable group Liberty Global is preparing a bid for UK cable company Virgin Media Inc, 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)
- Tweet this
- Share this
- Digg this
LONDON - Britain's biggest department store group John Lewis posted a 1.8 percent year-on-year rise in sales to 144.5 million pounds ($236.3 million) in the week to December 7, helped by another record week for its online business.
FRANKFURT - New solar installations reached a fresh record of 7.5 gigawatts (GW) in Germany in 2011, playing into the hands of advocates for steeper cuts in tariff subsidies to reduce growth of solar power and the resulting higher costs for consumers.