Carlyle in Talks to Buy Virgin Media
TOOLBOX   Resize
 Save/Share +
COMMENT
 Discussion Policy
 CLOSE
Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post.
|
Monday, July 2, 2007; Page A05
Carlyle Group, a District-based private-equity firm, is in the early stages of discussions to purchase Virgin Media, according to a source familiar with the talks.
The Virgin Media deal could reach nearly $20 billion, according to the source who spoke on condition of anonymity because the talks are ongoing.
The negotiations were reported in the Times of London over the weekend.
Virgin Media is a British company whose main product lines include broadband, wireless and fixed-line telephones. The public company, whose largest shareholder is Richard Branson, also has significant cable holdings.
Carlyle has deep experience managing telecommunications and cable companies going back more than a decade. The company operates telephone land lines in Hawaii through its ownership of Hawaiian Telcom. The firm also has cable companies in the United States and Europe.
Several Carlyle directors, including former Federal Communications Commission chairman William Kennard, have experience in telecommunications.
Carlyle spokesman Christopher Ullman said the company had no public comment. Virgin could not be reached for comment.
The talks with Virgin come as Carlyle is in the middle of a string of sizable deals, including a $5.6 billion buyout of General Motors' Allison Transmission truck business announced last week and a $10.3 billion deal to buy HD Supply from Home Depot.
