Virgin Media Withdraws Stocks Following Merger

By Tara MacIsaac, Epoch Times
June 10, 2013 Updated: July 18, 2015

Liberty Global Inc. and Virgin Media completed a merger on Friday and began trading under the tickers previously used by Liberty Global Inc. on Monday.

The newly-merged duo now operates under the parent company Liberty Global plc, organized under U.K. law.

A Liberty Global Inc. press release values the stock and cash merger at $24 billion. The release states that Virgin Media’s common stock on the Official List and the admission of those shares to trading on the Main Market of the London Stock Exchange will be cancelled as of 8 a.m. Monday. Virgin Media’s stock was listed at $51.00 as of 5:06 a.m. UKT on the company’s website on Monday.

The shares of Liberty Global plc will trade under LBTYA, LBTYB and LBTYK.

Mike Fries, president and CEO of Denver-based Liberty Global, told the Denver Business Journal: “Together we now provide over 47 million video, voice and broadband services to 25 million customers located principally in 12 European countries. With superior network capacity, the fastest broadband speeds and innovative digital TV platforms, we’ve never been more excited about the growth potential and strategic direction of our business.”