05-07-2006, 10:28
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#1
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cf.addict
Join Date: Apr 2005
Posts: 251
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NTL:Telewest Scores With Virgin
Quote:
NTL:Telewest finally announced completion of its buy-up of Virgin Mobile today after getting the green light from the High Court.
Virgin Mobile's shares have been delisted from the stock exchange. It'll continue serving its four million punters as a separate entity for a while, most likely until early 2007, NTL:Telewest says.
Then, under the licensing arrangement which is a key driver behind the acquisition, NTL:Telewest will begin offering a quadruple-play of broadband, TV, mobile, and fixed phone lines to consumers under the Virgin brand.
NTL:Telewest CEO Steve Burch said: "This...will create a formidable competitor in the UK's fast changing communications and entertainment industries."
Virgin founder and beardy billionaire Sir Richard Branson said: "Today, we've created a unique organisation - a new, soon-to-be-branded Virgin company - which will offer the very finest in 'quadruple'.
"Through our new company, our aim is to offer consumers the very best, most sought-after choice available. You ain't, as the saying goes, seen nothing yet..."
Getting its hands on the Virgin name means NTL:Telewest will have a sexier market presence when the time comes to compete in the impending quadruple-play dust-up with the grunt of Murdoch's Sky, the power of France Telecom's Orange brand, and a still widely trusted household name like BT. The giants are all betting on people preferring to get one bill rather than four.
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The Register
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