Mobile Crash Leaves Virgin Media Nursing [Pounds]330m Loss

Daily Mail (August 08, 2008)

Author: Simon Duke

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Summary

CABLE giant Virgin Media crashed into a [pounds]330m loss in the second quarter after admitting that its mobile phone division had lost a third of its value in just two years.

In a shock move, the group slashed [pounds]366m off the value of its Virgin Mobile wing, which predecessor NTL bought for nearly [pounds]1bn pounds in June 2006.

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Extract

Mobile Crash Leaves Virgin Media Nursing [Pounds]330m Loss

That deal handed Sir Richard Branson a 10pc stake in the cable group, along with a pro...

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