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Liberty Global Buys Virgin Media for $23.3 billion |
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Wednesday, 06 February 2013 |
Let’s face it – Virgin definitely did a great job in their media company, something that has propelled the company to one of the biggest media players in the UK. Of course, it looks like Virgin Media has just been recently acquired by Liberty Global, and the sum isn’t small either – they were paid a whopping $23.3 billion in cash and stock, signifying one of the largest corporate acquisitions this year!
Of course, with Liberty Global owning Virgin Media, this gives the company a much larger foothold in Europe when compared to their previous dominance. The latest figures released by the company suggest that they now cover over 47 million homes across 14 countries. Apparently, Virgin Media will continue to operate using its current name, but how the acquisition would impact the UK market wouldn’t be so apparent yet at the initial stage.
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