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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