EU signals green on acquisition of Virgin Media by Liberty Global
Liberty Global will now acquire Virgin Media on acquisition value of £15bn. This has been decided based on the approval given by European Commission. There was no tough competition for the deal and hence the acquisition was allowed to be taken. Richard Branson will get nearly £200m from his shares and cash while the present CEO of the company will receive about £58 when he leaves the business.
Existing customers are still unaware of what is in store for them post-acquisition. However, Liberty Global has announced about delivering improved services to existing customers. Also, few processes such as introduction of new products and services will happen at slow pace during such acquisitions. It is hoped that things regarding post-acquisition activities will become clearer in due course of time.