closedownarrowlogo-verticalmenu-barsearch Skip to main content
Jump to navigation
Virgin Media news

Virgin Media has postponed the sale of the company, amid a credit crunch which has squeezed the private equity sector.

The announcement comes as Virgin's stock has dropped 19 per cent in a month – a development which prompted the company's advisors Goldman Sachs and UBS to extend the deadline for the deal.

A statement from the firm said: "To enhance shareholder value, Virgin Media's financial advisors have recommended that Virgin Media extend the process until these parties can complete their proposals in a more stable debt market environment."

Firms believed to be interested in Virgin Media include Carlyle, a consortium involving Blackstone Group and KKR and cable operator Liberty Global.

News of the delay comes as Virgin this week confirmed that it had attracted an extra 51,000 broadband customers during the second quarter.

The new custom takes the firm's total subscriber base to 3.5 million.

Join the conversation

comments powered by Disqus

Stay up to date

  • Google+ Follow uSwitchTech
  • Subscribe to our RSS feed

Latest Comments

  • Dilson Von Belper 1 day ago BT Smart Hub review I agree ..but I called BT and had such a fight, many calls back and forward to India and South Shields ,...
  • Melanie Jane Shields-Appleton 2 days ago Ofcom unveils plan to bring... Hi David, I moved a 3 year old house on the 5th April, I was assured by BT I would get fibre but once I...
  • Simon Parker 2 days ago Ofcom unveils plan to bring... I've just had FTTP installed in my street ( today in fact) The mind boggles as to why I will need faster...

Search news