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Virgin Media Comes To London Stock Market

In a move aimed at increasing its shareholder base in UK, the NASDAQ listed Virgin Media has made its debut on the London Stock Exchange (LSE) today as the cable company's fortunes appear to be brighter.

Virgin Media incidentally has a very strong presence in UK and it competes with BT, Carphone Warehouse and the BSkyB group across numerous verticals including Pay TV, broadband and telephony.

It is interesting to note that while Virgin Media has decided to go in for a secondary listing on the LSE, it however does not have any apparent plans to issue any new equity.

Expressing his satisfaction at the secondary listing, Virgin Media Chief Exec Neil Berkett told journalists that the "secondary listing represents an important step in broadening investor access to Virgin Media shares. Our London secondary listing will provide investors with an additional means of trading the shares, and will further enhance the profile of our business in the U.K. and Europe."

Of late, Virgin Media has been aggressively pushing its broadband offerings and the company plans to increase in presence in UK at a quick rate.

Analysts point out that a secondary listing on the LSE with help the company increase its overall profile in Britain and will also help it in improving its brand recognition.

Our Comments

Virgin Media's share price in the US has been on the rise since the beginning of the year showing that 2009 has been a great year for the telecommunications company. In the UK, it already has a 50mbps service available, faster than the competition. Virgin media is already mulling plans for a 200mbps over the next few years.

Related Links

Virgin Media makes its London debut

(Guardian.co.uk)

Virgin Media to list in London

(C21 Media)

Virgin Media set for LSE debut

(Cable.co.uk)

Virgin Media Debuts Secondary Listing On London Stock Exchange

(The Wall Street Journal)

Désiré has been musing and writing about technology during a career spanning four decades. He dabbled in website building and web hosting when DHTML and frames were en vogue and started writing about the impact of technology on society just before the start of the Y2K hysteria at the turn of the last millennium. Following an eight-year stint at ITProPortal.com where he discovered the joys of global tech-fests, Désiré now heads up TechRadar Pro. Previously he was a freelance technology journalist at Incisive Media, Breakthrough Publishing and Vnunet, and Business Magazine. He also launched and hosted the first Tech Radio Show on Radio Plus.