Virgin Media Inc (LON:VMED) has reported that it was in discussions with Liberty Global, which may lead to a takeover of VMED. This news sent the shares up 424.82p (17.25%) to 2887.82p.
On 20-Jan-2013 I mentioned VMED as a potential special situation, at 2413p, on account of noticing that it was returning capital. I did not have a position, which is rather unfortunate given the news today.
A missed opportunity to make a quick quid, although I was not to know that at the time.
Still, it’s always nice to discover that an idea I had went up, rather than down, in price. I wouldn’t buy it now, because buying into bid speculation is too risky. It might be one to look at again if the bid fails.
Did anyone take a nibble when I mentioned it last month?
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Virgin Media Inc. is engaged in entertainment and communications business. The Company has two segments: Consumer and Business. The Company is a provider of broadband Internet, television, mobile telephony and fixed line telephony services that offer a range of entertainment and communications services to residential and commercial customers throughout the United Kingdom. The Company is a provider of residential broadband Internet, pay television and fixed line telephony services. The Company is also a mobile virtual network operators, providing mobile telephone service to 1.5 million prepay mobile customers and 1.5 million contract mobile customers over third party networks. It provides a portfolio of voice, data and Internet solutions to businesses, public sector organizations and service providers in the United Kingdom through Virgin Media Business. On September 30, 2011, it disposed its 50% interest in the UKTV companies to a subsidiary of Scripps Networks Interactive, Inc. more »
