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