NTL has finally completed the takeover of Virgin Mobile after getting High Court approval. Virgin Mobile’s shares have been delisted from the stock exchange, but the company will still exist as Virgin Mobile until 2007, according to NTL. After that time, the Virgin brand will be used to front a quadruple offering of broadband, TV, mobile, and fixed phone lines.
Virgin founder Sir Richard Branson is obviously pleased: "Today, we’ve created a unique organisation – a new, soon-to-be-branded Virgin company – which will offer the very finest in ‘quadruple’. Through our new company, our aim is to offer consumers the very best, most sought-after choice available. You ain’t, as the saying goes, seen nothing yet…"
The Virgin name offers NTL a "cool" brand to use when it competes with the other big quadruples players – Sky, Orange and BT, which are all intent on dominating the "one bill" market.
Via The Register