Virgin reverse takeover of NTL?

[puggit]

www.sky.com/skynews/article/0,,30100-13474454,00.html

sky said:

Branson Eyes NTL Merger Updated: 13:26, Sunday December 04, 2005 Sir Richard Branson looks poised to merge his Virgin Mobile phones business with cable company NTL to create a new media powerhouse. The move will create a £4.5bn entertainment and communications giant with more than nine million customers. The proposed deal, which will see NTL rebranded Virgin, amounts to a reverse takeover. It will provide the UK's first "quadruple play" service, made up of mobile phones, fixed-line phones, internet broadband and television. According to the Sunday Telegraph, Sir Richard will swap his 72% stake in Virgin Mobile for a 14% slice of the enlarged cable and mobile group. This will make him the biggest single shareholder in the new company. It is thought that NTL will table an offer for Virgin Mobile above the latter's 311p Friday closing price. The proposed deal, which already has Sir Richard's backing, is subject to the ?£.4bn tie-up of NTL and rival Telewest going through.

Well at least that should finally improve customer service at NTL