U.S. billionaire John Malone's cable group Liberty Global is preparing a bid for UK cable company Virgin Media Inc, the Financial Times reported on Monday, citing several people familiar with the matter. Virgin Media -- the UK's second-largest pay television operator according to the FT -- has a market capitalization of around $10.4 billion (6.6 billion pounds) as of Monday's closing price.A bid for could be announced in coming days, the FT said.Liberty Global and Virgin Media could not be immediately reached for comment.
Liberty Global, Inc. (LGI) is an international provider of video, broadband Internet and telephony services, with broadband communications and/or direct-to-home satellite (DTH) operations, As of December 31, 2011, the Company was serving 19. Shares of LBTYA fell by 1.45% or $-1.02/share to $69.46. In the past year, the shares have traded as low as $44.87 and as high as $70.65. On average, 1378330 shares of LBTYA exchange hands on a given day and today's volume is recorded at 1237419.
Virgin Media Inc. is engaged in entertainment and communications business. Shares of VMED fell by 2.37% or $-0.94/share to $38.69. In the past year, the shares have traded as low as $21.25 and as high as $40.25. On average, 2666340 shares of VMED exchange hands on a given day and today's volume is recorded at 4366972.
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