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Herbert Smith acts for Virgin
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Herbert Smith acts for Virgin

Herbert Smith is advising Virgin Group on NTL’s £962.4 million ($1.62 billion) recommended bid for Virgin Mobile. The cash offer of 372 pence per share, or a mixture of cash and shares, will be…

Herbert Smith is advising Virgin Group on NTL’s £962.4 million ($1.62 billion) recommended bid for Virgin Mobile. The cash offer of 372 pence per share, or a mixture of cash and shares, will be implemented by way of a scheme of arrangement.

Morgan Stanley and Allen & Overy are advising Virgin Mobile and Goldman Sachs, Ashurst and Fried Frank Harris Shriver & Jacobson are advising NTL.

Virgin Mobile, which is 71 per cent owned by Sir Richard Branson’s Virgin Group, rejected an original bid of £871 million by NTL last December.

Herbert Smith is a member of Virgin Group’s legal panel and advises the company on a number of issues including competition, corporate, employment, IP, litigation, finance, real estate, tax and trusts. Gareth Roberts is leading the Herbert Smith team advising Virgin Group. His team consists of partners Louise Freestone (corporate) and Jim Wickenden (US Securities). Will Harvey and Erik Morris are assisting them.

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