NTL to be sold by Virgin Media

It is always difficult to work out what is going on inside Virgin Media - on the outside it is its normal jolly self, but could there be problems of a financial nature within?

Now it seems that it could be preparing to sell off the corporate networking and communications division NTL Telewest Business.

This sale could raise around £600 million if the right buyer were found.

There is no doubt that Virgin Media is suffering financially at the moment.

In the first quarter of the year it announced a loss of £4.6 million and the second quarter figures are due out in two days time.

If the company is going to continue its investments in broadband, cable and telephone services then it is in need of a cash injection.

This sale would provide such a boost and enable the company to compete with Sky and BT.

Story link: NTL to be sold by Virgin Media