NTL said that its impending acquisition of Virgin Mobile may involve a substantial issuance of equity in the new company to the Virgin Group, which could end up with more than 10 percent of the the new company's voting stock. That is assuming that all Virgin shareholders opted for stock. The Virgin Group is also likely to have the right to designate a board member to the board of the new company.
For more details of the NTL acquisition of Virgin Mobile:
- take a look at this article from cellular.news.com