Rumors Swirl of Virgin Media Buyout

LONDON, March 10: Virgin
Media’s share price rose today on a weekend report of a possible buyout by a
consortium of private-equity firms, but a source close to the situation has
denied the speculation to Reuters.

The Observer reported over the weekend that Blackstone, Cinven,
Kohlberg Kravis Roberts and Providence Equity were preparing an offer of
between $6 billion and $7.5 billion for the British quad-play operator.
Reuters, meanwhile, quoted an unnamed source as saying: "They have not
worked on such a bid since May or June last year.”

—By Mansha Daswani