Virgin puts auction on hold - Techwatch: Satellite TV forums, FTA, Cable, Hardware, & Tech forums

BGonaSTICK · 03-08-07, 02:34 PM

Virgin Media is to delay its August 8 auction to avoid the current turbulence being felt within the credit market. Private equity companies have been stung by the market situation that could reduce the potential $23 billion (£11.3 billion) for the purchase of UK cablenet.

Carlyle Group, the private equity company that sparked the auction, is among a dozen companies looking to acquire Virgin. However, TPG Capital has withdrawn from the process amid concerns over Virgin’s business model.

A new auction deadline is due to be announced early next week.

03-08-07, 02:34 PM	#1 (permalink)
BGonaSTICK Super Murderator Join Date: Nov 2005 Location: Brighton Posts: 10,632 Thanks: 3 Thanked 64 Times in 37 Posts	Virgin puts auction on hold Virgin Media is to delay its August 8 auction to avoid the current turbulence being felt within the credit market. Private equity companies have been stung by the market situation that could reduce the potential $23 billion (£11.3 billion) for the purchase of UK cablenet. Carlyle Group, the private equity company that sparked the auction, is among a dozen companies looking to acquire Virgin. However, TPG Capital has withdrawn from the process amid concerns over Virgin’s business model. A new auction deadline is due to be announced early next week. __________________ Dreambox 7000, Skystar2 PCI, Skystar USB, Fibo 90cm on Moteck SG2100, Triax TD110 multi-LNB. Sky + ART cards. 45.0°E - 58.0°W


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