Mobile Stew

Yesterday's rumours that Ntl would be making a move for Virgin Mobile proved to be true with Ntl making an official offer worth £800m for Virgin Mobile.

If the deal goes ahead Ntl will use the Virgin brand to offer internet access, TV and fixed line and mobile telephony.  Ntl said it had also held preliminary discussions withT-Mobile, Virgin Mobile's network provider, which has said it supportsany proposed deal.

No response has been made by Virgin Mobile and I have a sneaky feeling the initial offer of 323p per Share will be rejected.  Early trading also seems to support this with Virgin Mobile shares rising to 337.25p in the first few minutes of trading today,suggesting that the City also believes a higher bid - or a rival ...