NTL Telewest has announced that it will change its name to Virgin Media early next year, after acquiring Virgin Mobile for £1 billion in April.
NTL completed the £962.4 million takeover of Virgin Mobile in July, which brought together NTL’s 5.1 million cable customers and 4.3 million users of Virgin Mobile phones. This followed an earlier deal which saw NTL take over Telewest for £3.2 billion in March, after years of cosying up.
This enabled the company to offer a ‘quadplay’ bundle, with broadband, TV, fixed line and mobile telephone services.
Chief Executive Steve Burch admitted that the name change was to take advantage of the Virgin brand:
“Our decision to announce its name and logo today is a reflection of my confidence that we’re well on the way to creating an organisation that can live up to this vision by consistently putting the consumer first.”
Meanwhile, NTL announced net losses for the third quarter, rising to £96.1million from £52.1million for the same period last year.
NTL Telewest press release