Virgin Media Plc To Be Bought By Liberty MediaVW Staff
Liberty Global Inc. (NASDAQ:LBTYA) (NASDAQ:LBTYB) has made a $23 billion offer for Virgin Media Inc. (NASDAQ:VMED), according to reports today. The deal will see shareholders of Virgin Media take 36% of the new group, and take $6 billion in cash. That cash will be extracted from Virgin Media itself, in a complicated financing arrangement. The news came on the back of Virgin Media's earnings report.
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