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Virgin Mobile shares up on new NTL offer

Jan. 16, 2006 at 2:26 PM

LONDON, Jan. 16 (UPI) -- Shares of Virgin Mobile, the British mobile phone operator mostly held by Richard Branson, rose 0.7 percent Monday after an improved takeover offer.

Late Friday London-based cable operator NTL Inc. increased by 8 percentage points the amount it was willing to pay for Virgin Mobile, MarketWatch reported.

Branson, who holds 72 percent of NTL, reportedly is offering minority shareholders a premium to encourage acceptance of NTL's proposal.

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