Virgin Media has appointed UBS and Goldman Sachs to help sell the UK broadband and cable operator’s 50% holding in pay-TV joint venture, according to Reuters.
UKTV has reportedly recently been valued at £351m including an outstanding loan of…
Virgin Media has appointed UBS and Goldman Sachs to help sell the UK broadband and cable operator’s 50% holding in pay-TV joint venture, according to Reuters.
UKTV has reportedly recently been valued at £351m including an outstanding loan of £116m.
However, a spokesman for Virgin Media played down the rumours, telling TelecomFinance the company “never comments on M&A speculation”.
The report adds that the UK’s BBC Worldwide, which is Virgin Media’s partner in UKTV, has yet to decide whether to make a bid for the stake.
Neil Berkett, chief executive of Virgin Media, was cited in The Guardian newspaper last month suggesting he could consider disposing the UKTV stake.
A sale could be used as part of Virgin Media’s £700m capital return strategy.
