Report: Virgin mobile arm to float?

Virgin Mobile is preparing to appoint advisers for a flotation in the last week of June which could value the mobile phone company at upwards of £1.3bn (€1.9bn), according to a report in the Guardian.

The report says that last week senior executives from Virgin and its mobile phone offshoot met to discuss the chances of Virgin Mobile becoming the first of Richard Branson's businesses to have a listing in London since he took his holding company private in the late 1980s.