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Sir Richard cuts his Virgin Media stake to 6.5%

# May 18, 12:58 PM by Mick

Just a brief update but according to a recent news item in the Daily Telegraph, a filing was made last Friday with the SEC. The Virgin Boss, Sir Richard Branson has cut his stake in the cable group to 6.5% from 10.45%, a move which now sees him change from second to fourth place in the shareholder register. The largest shareholder in Virgin Media is now Fidelity, with a 13.37% stake. Franklin Mutual Advisors comes second with a stake nearing 10%. Wellington Management Company has a 8.58% stake.

Sources close to one of the UK’s most high-profile entrepreneurs has insisted that he still remains committed to the cable group and analysts have stated that Sir Richard is unlikely to sell down further “at this point”.

*Source: Daily Telegraph.

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