NTL makes Virgin Mobile approach

Cable company NTL has made a takeover approach to Virgin Mobile, it confirmed today.

Cable firm NTL confirmed today it had made a takeover approach to Virgin Mobile in a move valuing the telecoms company at more than £810m (€1.2bn).

NTL, which is already in the process of merging with cable rival Telewest, said it planned to use the Virgin brand across its empire of internet, television and telecoms services if successful.

A takeover would provide greater competition to the industry dominance in Britain of telecoms firm BT and broadcaster BSkyB.