Virgin Media Open To Bidding
Virgin Media confirmed July 3 that it has received a bid proposal from an unidentified company looking to purchase it.
Though the provider of cable television, telephone, Internet and mobile phone services would not disclose the company behind the bid, it was widely reported that it is the U.S.-based private equity firm Carlyle Group.
Virgin Media is a rival to BSkyB in the United Kingdom. Despite the rebrand to Virgin, the operator has found it difficult to compete with BSkyB in the television market. Virgin also said it is conducting a strategic review of the company with Goldman Sachs, which could lead to a possible sale.