Carlyle Courts Virgin Media
Heavily indebted, hemorrhaging customers, and in dire need of some managerial TLC, British cable company Virgin Media (VMED) may have found the solution to its problems in a $23 billion takeover bid from Washington (D.C.) private equity giant The Carlyle Group. The offer for Virgin Media, which has appointed Goldman Sachs (GS) to assess its options, could spark a bidding war with other private equity players such as Providence Equity Partners and potentially even rival media and telecom companies waiting in the wings.
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