3/10/2008 4:35:00 PM
Virgin reportedly a £3.75 billion takeover target
Several private equity groups are reportedly lining up bids to buy Virgin Media for $7.5billion (£3.75billion).
Blackstone, Cinven, KKR and Providence Equity are ready to offer between £3 billion and £3.75 billion according to a private document entitled Project Coaxial, which s Sunday newspaper claims to have seen.
US-listed Virgin Media was created by the merger of NTL, Telewest and Virgin's mobile phone operations.
It operates solely in the UK where it has about 4.8 million cable and high speed internet customers.