Virgin Mobile have said no to NTL’s recent advances to takeover the company.  NTL proposed a takeover bid worth £817 million ($1.42 billion), which Richard Branson felt was a good deal.  Other boardmembers didn’t, though, and turned the offer down, feeling it “materially undervalues Virgin Mobile.” And they’re probably right, too.  Rumours are already circulating that Orange-owner France-Telecom and Vodafone are preparing their own bids for the MVNO.

 

If NTL buy Virgin Mobile, they’ll rebrand the whole company Virgin TV, riding the Virgin brand for all they’re worth.  If Vodafone or Orange buy it, they’ll be doing it primarily to spite T-Mobile, which provides the actual network across which Virgin’s virtual network runs. Clearly if Orange or Vodafone buy Virgin Mobile, the lucrative MVNO contract will be swiftly cancelled. T-Mobile must be holding their breath, praying NTL comes up with the extra £74 million Virgin Mobile are apparently holding out for.