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The board at Virgin Mobile has rejected an offer from UK cable operator NTL, worth some £817 million ($1.4 billion). The deal is endorsed by majority shareholder Sir Richard Branson, who owns 72% of the company. The board stated that the deal undervalued the company. Analysts believe the company expects NTL to approach Virgin Mobile again with a higher offer. Sir Richard said that he was 90% sure a deal would eventually go ahead. Branson said in an interview that "It's for the board to negotiate with NTL a fair price for the shareholders, particularly the smaller shareholders. They have said to me they have quite bullish forecasts which they want to put in front of NTL." Source: news.bbc.co.uk
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