Summary
STEVE BURCH, the chief executive of Virgin Media who took charge of the former NTL only 18 months ago, will make tens of millions of pounds if it succumbs to a 5 billion takeover bid from private equity.
Virgin Media shares, which are listed on New York's Nasdaq market but not in London, jumped almost 15% today after news of a bid approach from Carlyle Group emerged at the weekend. The shares rose $3.31 to $28.04 from Friday night's $24.73 close. Carlyle is reported to have made an early indicative offer of about $32 a share.See the full content of this document
Extract
Virgin Media Boss in Line for Bid Millions
Tonight, Virgin issued a brief statement confirming that Carlyle had approached it with a proposal.
The approach was conditi...See the full content of this document
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