Liberty Mulls Virgin Media Bid

ENGLEWOOD/LONDON, July 30: Liberty Global is considering a
bid for British cable platform Virgin Media, according to comments made by the
company’s chairman, John Malone, to the Financial Times.

Liberty Global is already the leading cable operator in
Europe, operating in 11 countries under the brands UPC, Cablecom (Switzerland)
and Telenet (Belgium). A Virgin Media deal would extend Liberty’s reach into
the key U.K. market.

Malone told the FT
that talks are still at an exploratory stage and that the company is still "doing
our homework.” There are said to be about 10 potential bidders for Virgin
Media, including a host of private equity firms—Carlyle Group; a
consortium consisting of Providence Equity Partners Inc, Kohlberg Kravis
Roberts & Co. and the Blackstone Group; and Apax Partners. Liberty Global
itself may partner with an investment firm for an offer.