ntl:telewest Rumor Resurfaces
9:00 AM -- Not for the first time, speculation has emerged that British cable operator Virgin Media Inc. (Nasdaq: VMED), which is undergoing a slow but well thought out transformation under new CEO Neil Berkett, is set to sell its enterprise services division, Virgin Media Business Ltd. . (See Virgin Territory and Virgin Media Names CEO.)
A report in The Sunday Times suggests Virgin Media is seeking about £600 million (US$1.2 billion) for the business, which provides voice and data services, including Ethernet services, to business and local government users in the U.K. (See ntl:Telewest Wins VPN Deal, ntl:Telewest Wins MPLS Deal, and EasyJet Picks NTL:Telewest.)
ntl:Telewest generated revenues of £161 million ($315 million) during the first quarter of 2008, though as Virgin Media doesn't provide a breakdown of its margins and profits, it's unclear how viable the business could be as a standalone entity.
Suggestions that ntl:Telewest is up for grabs comes as two of its business services rivals work towards a merger. (See C&W Offers £329M for THUS.)
— Ray Le Maistre, International News Editor, Light Reading
A report in The Sunday Times suggests Virgin Media is seeking about £600 million (US$1.2 billion) for the business, which provides voice and data services, including Ethernet services, to business and local government users in the U.K. (See ntl:Telewest Wins VPN Deal, ntl:Telewest Wins MPLS Deal, and EasyJet Picks NTL:Telewest.)
ntl:Telewest generated revenues of £161 million ($315 million) during the first quarter of 2008, though as Virgin Media doesn't provide a breakdown of its margins and profits, it's unclear how viable the business could be as a standalone entity.
Suggestions that ntl:Telewest is up for grabs comes as two of its business services rivals work towards a merger. (See C&W Offers £329M for THUS.)
— Ray Le Maistre, International News Editor, Light Reading
