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EU approves Liberty Global, Virgin Media deal
2013-04-15 02:00:00| Total Telecom industry news
European Commission rules merger raises no competition concerns.
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Virgin Media snagged for $23.3B by Liberty Global
2013-02-06 14:28:51| CNET News.com
Liberty Global says the deal creates the "world's leading broadband communications company," covering 47 million homes and 25 million customers across 14 countries. [Read more]
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Liberty Global to buy Virgin Media for USD 23 bln
2013-02-06 08:51:00| Telecompaper Headlines
(Telecompaper) Liberty Global has agreed to acquire UK cable operator Virgin Media for USD 23.3 billion. Virgin Media shareholders will receive USD 17.50 in cash, 0.2582 Liberty Global Series A shares and 0.1928 Liberty Global Series C shares for each Virgin Media share they hold. This implies a price of USD 47.87 per Virgin Media share, a 24 percent premium on the closing price the day before merger talks were first announced. Liberty Global said it expects the takeover to result in operating and capex synergies of around USD 180 million in the first full year of integration. Virgin Media is also expected to help the company's strategy in mobile and business services, where it has been looking to grow. Liberty plans to finance the cash portion of the takeover, worth about USD 5.9 billion, with its own cash and that of Virgin Media, as well as an increase in Virgin's debt by around USD 3.0 billion. The shares component will give Virgin shareholders 36 percent of Liberty Global's capital and 26 percent of the voting rights. Liberty Global also plans to move its holding company from the US to the UK after the takeover, and said it could later pursue a stock listing in Europe. The deal still requires shareholder approval, planned for the second quarter, and Liberty's largest shareholder, John Malone with 35 percent, has pledged to support the deal.
Liberty Global to snap up UKa s Virgin Media for $16 billion in British challenge to BSkyB
2013-02-06 06:54:45| Telecom - Topix.net
Liberty Global Inc., the cable TV operator owned by media mogul John Malone, is buying U.K.-based Virgin Media Inc.
Virgin Media Full Year and Fourth Quarter 2012 Results
2013-02-06 02:10:21| Digital TV News
Virgin Media (NASDAQ: VMED; LSE: VMED) has announced results for the year and quarter ended December 31, 2012. Virgin Media added 896,900 more TiVo customers during 2012, including 187,300 in the fourth quarter to reach a total of 1.33m or 35% of its TV customer base.
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