Virgin Mobile reject ntl offer
# Dec 8, 03:39 AM by Nemesis
The Telegraph is reporting that Virgin Mobile had last night dramatically rejected ntlÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬ÃƒÂ¢Ã¢â‚¬Å¾Ã‚Â¢s ÃƒÆ’Ã¢â‚¬Å¡Ãƒâ€šÃ‚Â£817m takeover offer, citing the approach ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬Ãƒâ€¦Ã¢â‚¬Å“materially undervaluedÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚Â¬Ãƒâ€šÃ‚Â the telecoms group. Last nights decision by the Virgin board was apparently not known by Virgin’s Sir Richard Branson and ntl chief executive, Simon Duffy.
However, despite the rejection – Sir Richard Branson is, according to the Telegraph, expected to press on with the deal even though he decided to leave the final decision to the Virgin board.
Read more @ the Telegraph.