Virgin Media sold for £10bn

A US cable firm has confirmed that it will buy Virgin Media in a deal worth £10 billion. Liberty Global said the agreement would create "the world's leading broadband communications company".

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Virgin Media's new owner makes broadband commitment

Liberty Global says the deal with Virgin Media means the company will have a total of 25 million customers in 14 countries.

Chairman of Liberty Media, John Malone Credit: Reuters

It is already the largest cable operator in most of its 11 European markets. But the majority of revenue is expected to come from five countries - the UK, Germany, Belgium, Switzerland and the Netherlands.

Liberty Global says it plans to continue investing in Virgin's broadband network.

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