Liberty Global in move to buy Virgin Media
The Financial Times has the news that Liberty Global is in the process of making a bid for the Virgin Media group.
Liberty Global is a US based operator which owns cable networks in some 13 countries with 20 million customers in total. The US billionaire John Malone who is behind Liberty Global has previously made attempts to buy NTL.
While Virgin Media is linked to Sir Richard Branson's Virgin Group that group only has a 3% stake in the business receiving an annual royalty payment for the use of the Virgin name.