Virgin Media Gives Other Bidders More Time After £5.5bln Offer

Cable TV company Virgin Media has extended its strategic review of the business to give other bidders more time to make a offer for the company.

Virgin Media has received a bid of £5.5 billion from an as yet anonymous bidder.

Virgin Media are apparently giving other bidders more time to put together a deal, waiting for a “more stable debt market environment”.

Recently, Virgin Media shares have been taking a bit of a beating due to a row that they had with rival TV company, Sky TV.

Virgin Media also lost 46,900 customers in the previous three months to the end of March.

Do you think Virgin Media will get a higher bid?

Should Richard Branson sell Virgin Media at all?

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