You know, I can honestly say that I never considered the purchase of a mobile phone company a bargain. Then again, it looks as if the potential purchase of Virgin Mobile may fall into that category regardless of my frugality.

NTL is poised to launch its much-anticipated £961m recommended offer for Sir Richard Branson’s Virgin Mobile as early as today, with an increasing likelihood that the cable company will have to pay less in cash than it had anticipated.

New York-listed NTL was yesterday believed to be completing its filings with the Securities & Exchange Commission for the deal, which marks an audacious attempt to take on the likes of BSkyB and BT in Britain’s TV and telecoms markets.

Sir Richard’s Virgin Group owns 71pc of the mobile company, the fifth largest cell phone operator in the country. Sources close to the deal were confident it will be approved by the minorities.

The terms are likely to be virtually unchanged from those outlined in January. Virgin Mobile minority shareholders are expected to be offered cash at 372p a share with an alternative offer of shares in NTL. Source: Business Telegraph