Carlyle, the private equity group, is poised to launch a $8bn (£4bn) bid for Virgin Media, the cable company whose largest shareholder is Sir Richard Branson. The move is expected to trigger an auction, with bankers in the early stages of preparing a sale process. Uma Thurman, Carlyle wires up $8bn private equity bid for Virgin Media Despite a £25m publicity blitz featuring Uma Thurman (above), Virgin Media’s share price has fallen amid concerns that it will lose out in its battle with BSkyB, the satellite operator Goldman Sachs, a long-term adviser to Virgin Media, is understood to be working on the potential sale. City sources confirmed last night that they expected details about the company’s financial situation to be sent to prospective buyers within weeks. Other banks are expected to be appointed alongside Goldman to handle the deal. Carlyle is among a number of potential bidders to have been in contact with Virgin Media’s advisers in recent weeks. Providence Equity, which last summer led a consortium including Blackstone, Kohlberg Kravis Roberts and Cinven in a $10bn approach to Virgin Media, is understood to have signalled its interest again. A spokesman for Virgin declined […]

Read the Full Article