Virgin Mobile, the UK-based mobile phone operator, has reportedly accepted the cable group NTL’s takeover offer valued at ??962.4 million ($1.7 billion). The formal offer includes a per share offer of 372 pence in cash, a paper alternative of 0.23245 NTL shares valued at 389 pence, as well as a mixed option of 311 pence in NTL shares plus 67 pence in cash. The deal creates the UK’s first media company to offer “quadruple play”, comprising television, broadband, fixed line and mobile phone services.
