John Malone's Liberty Global is in late-stage takeover talks with British group Virgin Media over a $20 billion cable deal that would put the billionaire up against old rival Rupert Murdoch.Virgin Media, the second-biggest pay-TV provider in Britain behind Murdoch's satellite group BSkyB, said on Tuesday saying it had received an approach.Two sources familiar with the situation said talks were at a late stage and one said confirmation and details of a deal could come on Tuesday.A deal could reach as much as $24 billion and would give Liberty entry to one of Europe's biggest and most competitive telecom markets, allowing it to apply lessons learned as a pay-TV and broadband provider in 11 other European countries.
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 2.86% or $-1.99/share to $67.47. In the past year, the shares have traded as low as $44.87 and as high as $70.65. On average, 1386550 shares of LBTYA exchange hands on a given day and today's volume is recorded at 4212620.
Virgin Media Inc. is engaged in entertainment and communications business. Shares of VMED traded higher by 17.01% or $6.5801/share to $45.27. In the past year, the shares have traded as low as $21.25 and as high as $40.25. On average, 2687320 shares of VMED exchange hands on a given day and today's volume is recorded at 25710384.
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