Virgin may list on London exchange

UK ISP Virgin Media is mulling over a secondary listing on the London stock exchange in a bid to attract European-based investors.

According to a report in the Time the broadband player will announce its intentions at its Q2 results later this month.

The group is quoted on Nasdaq and is valued at €2.59 billion, but has been reviewing its listing which dates back to its original entity as NTL, the cable company founded by Barclay Knapp. A  UK listing has been periodically considered over the  past decade, but moving the primary listing to the UK has been rejected due to the additional tax liabilities that would be associated with such a move.

The company only operates in the UK however and has streamlined its operations under CEO Neil Burkett who has focused on broadband rather than pushing its early quad play marketing approach including Pay TV, broadband,  fixed and mobile.

The news comes as Channel 4 announced that it was withdrawing its intention to bid for Virgin Media's Pay TV channels  valued at €70 million. Still in the  race for the assets is BSkyB, which has put in the highest bid,  Time Warner, NBC Universal and RTL.

 

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