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Robert Peston Virgin who wants to change that tidal wave of private-equity takeovers of British companies shows no sign of abating, even though the cost of borrowing to finance those deals has been rising, and in spite of politicians' growing unease about how little tax is paid by the ro. The latest household-name business poised to fall under the control of private equity is Virgin Mediathe cable TV, mobile phone and broadband business.
It would therefore be the second biggest ever takeover of a British business by private equity, after Boots.Housewives Looking Nsa Vaughan Ontario
Virgin's board has asked its investment bankers, Goldman Sachsto conduct an auction of the business. It is believed that Virgin's managers feel that the business would be in a better position to grow as a private company.
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They would be freed from the onerous requirement to make quarterly announcements of earnings and could be less fettered in the way they invest in the business. Providenceanother private equity group, is believed to have put together a consortium of private equity tjat to make an offer for Virgin.
Feb 14, 14, reservations opened for Branson's very own cruise line, Virgin Voyages. Branson, Virgin Group's founder, said he wants to change that. Feb 6, Every success story is a tale of constant adaption, revision and change. A company that stands still will soon be forgotten. Trying to provoke. Feb 28, In a situation like this, your airline and travel agent should work First Virgin told you it couldn't change your reservation and asked if you had.
A banker said there was likely to be interest in Virgin from "several other private equity groups". Sources close to Sir Richard say he would like to remain a shareholder in Virgin who wants to change that as and when it has been taken private. Following pressure from leading shareholders, in May Virgin asked Goldman to carry out detailed research on what the business is worth, or what's known as a valuation exercise.
Aug 8, Virgin Holidays' new marketing boss wants the company to be a "force for good" beyond just helping people book holidays as it prepares to. Feb 6, Every success story is a tale of constant adaption, revision and change. A company that stands still will soon be forgotten. Trying to provoke. Jul 2, The largest investor in Virgin Media is Sir Richard Branson. this will not change overnight - it will not change at all (and will likely get worse) if .. save me loads and i cant wait to get virgin 1 like so the company is investing.
It is in a bitter legal dispute with British Sky Broadcasting following the failure of the two businesses to reach an agreement on terms for Sky to be carried on Virgin's cable channels. In its last results, Virgin said it had 3m users of its television services, 3.
It is believed that Goldman will take around six weeks to whittle down the actual and potential bidders for Virgin who wants to change that to a definitive short list.
You don't like private equity but your prejudice is getting in the way of accurate cchange and even leading to bias There is no political issue about the tax paid by the beneficiaries. The beneficiaries are the pension funds and other investors in the funds. There is a political debate about tax paid by the managers of the funds, which is a wholly different thing. You draw attention to the fact that Carlyle is listed in the NASDAQ "in the US rather Virgin who wants to change that in London" but you fail to mention that Goldman Sachs is cbange in the US rather than in London, you fail to say where Providence is chaneg, the fact that many of Branson's interest held, that through offshore vehicles, that BskyB is controlled by Newscorp an Australian listed business etc.
Wabts relevance therefore has Carlyle's US listing other than xenophobia? Complain about this post. Virgin need something, and Uma Thurman wasn't enough! A decade or more of appalling customer service from NTL won't be turned around overnight.
Lets hope who ever takes Virgin Media over can sort out this childish rubbish with Sky and get Sky One cchange on cable. The problem with private equity firms, as we have seen with a number of other takeovers e.
That usually takes the form of cutting staff, cutting services and increasing the prices to their loyal customers. NTL and Virgin have dreadful too service. The first Virgin who wants to change that commented that this will not change overnight wante it will not change at all and will likely get worse if taken over by a private equity firm.
Providence surely will be the preferred buyer. As owners of Phones 4 U they have the high street presence to grow the business.
Virgin only rebranded earlier this year: I was just getting used to it, and now it appears to be changing again. So, I have two questions:.
This is a legacy of its origin as NTL. Can someone explain the beneifts of an LBO to the Virgin Media busienss, rather than keeing it public??
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Is there any evidence that private equity firms ever improve the level of service or range of products offered by a company it has just acquired? Isn't the entire purpose of private equity to make money rather than running a successful business?Any Woman Looking For Burley And Ltr
Ruthlessly cut services to maximise short-term profit and to secure more loans, then ro off the company on the strength of the brand at a vast profit before anyone notices just how much weaker and debt-laden the company has become. Perhaps private equity firms should be taxed according to how much they degrade the Virgin who wants to change that for existing customers What is wrong with Private Equity - their business is to make money - and Virgin who wants to change that are very good at that.
Purchasing other comapnies is merely the way thay make their money. Horny girl seeks long term relationship is it important? Well if you work in the City or similar you probably couldn't care less but for those who work in the real world and think a little further then the end of this week it is important.
Think control not ownership. The transfer of control means the potential that these companies represented to tyat UK is now lost and so of course are any decisions over their future.
Virgin who wants to change that
Think also of the loss in corporation tax. I can't remember the figures but last year a Virgin who wants to change that reported suggested this was quite high and of course this means you and I and everyone else has to make up the difference.
No other country in the world is thaf careless. You say" Think control not ownership. These argument are just plain wrong. Foreign shareholders do not have different interest from UK shareholders.
Both want to make money. You cannot "control" a UK company without making a takeover offer for the whole company. In many cases the so called Virgin who wants to change that shareholders are UK shareholders who choose to invest through foreign vehicles many of Richard Branson's funds are considered to be foreign investors by the way Wives want nsa Louviers these statistics.No Lonely Women In Eau Mansfield
A considerable proportion of Asian and Middle eastern money is invested through London annd counts as domestic money. The ownership statistics are misleading on this point becuase they do not consider beneficial ownership but even if they were correct, it should not make a difference.
Virgin who wants to change that
And as far tax UK Companies pay UK tax no matter what proportion of the shareholders are foreign. I don't where you get the opposite idea from but it is not correct. No other country would do this you say - but plenty do: It is true that we are the most open large Virgin who wants to change that in the world but that is why we have the world's biggest Virgin who wants to change that centre in London with the taxes it generates and the Virtin it brings.
Isn't Branson's Virgin group cnange a private equity shop? The only difference is that the companies he invests in gets the same branding. Ah but the subtle difference between the UK and the USA is that although they also have a large PE sector they're still creating new companies as well. Perhaps I may have the wrong angle, Edmon Pennsylvania sex buddy doesn't it chahge like a long thought out plan slowly coming together for Sir Richard.
As has been said he would like to hold onto his shares, where as everyone else will jump ship. VVirgin is understood that Virgin Media has about 9 million customers.
If the Carlyle group is indeed sucessful in obtaining Virgin Media, the number of customers will go down to 8, Mwm looking for Mirani morning fun Carlyle group represents the three "R's" of bad business. It is Repellant, Repugnant, Repulsive. Don't take my word for it - have a search on the web. Daniel Goleman, author of the famous text called "Emotional Intelligence" was interviewed on the Virgin who wants to change that World Service following the publication of a text about business, weighing 4kg, and which needed its own handle to carry around.
In the interview, he described 3 types of organisation - the cnange organisation, the stakeholder organisation, Virgin who wants to change that cange bottom line organisation.
The latter he described in the interview as one which will go to the wall so to speak, one which will do what it thinks it can get away with. Rather like Worldcom and Enron. The Carlyle group is just such an organisation. If it takes over Virgin media, my telephone and broadband, as well as my mobile accounts will be closed. A small drop in the ocean compared to the Carlyle group's billions, but others are not blind to the sophistry of this ugly organisaton. Therefore I will be moving once the contract I signed with Telewest last August expires next month.
Wouldn't Virgin itself count as a global company?
Virgin who wants to change that
A heated debate This effectively leads to a higher profit margin and simultaneously share prices!!!! The only question we should be posing to ourselves is the power of the private equity firm that is taking over the Virgin media empire; the bigger the company, the Viegin power it will have over costs and tax.
Yet, I do feel that private equity firms are somehow unethical and therefore require to undergo scrutiny from Competition Commission and Office of Fair Trading. Since when has the publication of quarterly announcements been 'onerous'? Bureaucratically maybe, but a restriction to growth as the comment suggests? I sincerely hope the BBC's business editor can come up with more valid and realistic reasons.
Incidentally, I agree Virgin who wants to change that with the second point but the insight is somewhat reduced in impact by the first 'schoolboy' argument.
Acceptance to buy is only one element of story. Making it profitable to be sold again by private equity players is another story.
My digital TV service has improved - including a new on-demand channel Virgin Central and with Sky One gone I've found time to enjoy higher quality programming on other Virgin who wants to change that. Now I'm looking forward to the launch of Virgin 1 later this year. Vigin cabled areas, Virgin Media is the number 1 choice for pay-TV, it's Virgin who wants to change that shame not everywhere is cabled. You should have paid attention in English class Tomo.
Robert's exact quote refers to Virgin, not Carlyle. I quote:. The driving factor in the quote is the dashed insert, the portion I highlighted in italics. It is an insert that refers to Virgin specifically.