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Virgin sold to NTL
Posted by: AndyJenkins on Tuesday, September 28, 2004 - 12:57 PM
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Long time provider to Virgin.net, NTL, has finally acquired the remaining 51% of shares in the ISP meaning Virgin is now wholly owned by the cable co, according to the PCPro website today.
According to a statement by NTL on the acquisition, its going to be "business as usual" at Virgin - with existing management staying put. The 600,000 or so Virgin.net punters should (allegedly) also not be affected by the purchase.
NTL are traditionally a cable DSL provider and Virgin.net, ADSL focused, so this news clearly shows NTL ambitions in the ADSL market - in addition to their network expansion costing around £65million.
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