Malone Pursues Virgin Media

UK cable giant confirms talks with Liberty Global

By Mike Farrell, Multichannel News -- Broadcasting & Cable, 2/5/2013 11:24:59 AM

British cable giant Virgin Media confirmed that it is in discussions with John Malone's Liberty Global concerning a possible takeover, which could further solidify Liberty's dominance in the European cable landscape.

"Virgin Media confirms that it is in discussions with Liberty Global, Inc., a leading international cable company, concerning a possible transaction," Virgin Media said in a terse statement Tuesday. "Any such transaction would be subject to regulatory and other conditions. A further announcement will be made in due course."

No formal offer has been made, according to reports, but Liberty Global is expected to launch its bid for the cable giant within days. Virgin Media has a market capitalization of about $10.4 billion.

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