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Ofcom helps protect customers against unexpected roaming charges

Ofcom helps protect customers against unexpected roaming charges

UK service providers must notify customers when they connect to a different network

New rules from UK telecoms regulator Ofcom will protect customers when they use their mobile phone on a foreign network. In addition, customers will be alerted if they are inadvertently roaming, perhaps because they're near an international border.
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Global smartphone market is set for recovery, says new forecast

A new forecast from research specialists Canalys shows the smartphone market is set to recover next year. Worldwide shipments declined by 12% last year but that decline is expected to slow to 5% this year.
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Vodafone and Three plan to merge their UK businesses

Vodafone and Three plan to merge their UK businesses

New Hutchison/Vodafone network would be biggest UK operator

Vodafone Group plc and CK Hutchison Group Telecom Holdings Limited have agreed to combine their UK telecommunication businesses, respectively Vodafone UK and Three UK. The merger will create a large new network operator to compete with Virgin Media O2 and EE.
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UK mobile payment service Paym to close in March 2023

UK mobile payment service Paym will close on 7th March 2023. The service, which allowed users to make and receive payments using their mobile phone numbers, was launched in 2014.
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Qualcomm legal action moves forward in the UK

Qualcomm legal action moves forward in the UK

Which? seeks payout for Samsung and Apple smartphone owners

Consumer protection organisation Which? has been given permission by the UK's Competition Appeal Tribunal to represent Apple and Samsung smartphone buyers in a legal case against chip manufacturer Qualcomm.
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Opinion Articles

UK riots hit the mobile industry

Mark Bridge writes:

Having just returned from a week's holiday in a part of the country where mobile coverage was surprisingly sparse, it struck me how much mobile phones were linked to the recent English riots and looting.

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Rhona Cashman from OtterBox explains the secrets of mobile phone cases

Mark Bridge writes:

A mobile phone case is often seen simply as a revenue opportunity for retailers. But, as you might expect, there's a lot more to this type of accessory than first meets the eye.

I started this week's podcast feature by asking Rhona Cashman from protective case manufacturer OtterBox why mobile phone dealers should be discerning about the cases they sell.

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Steve Ballmer and Rupert Murdoch - both troubled by their one-percent businesses

Mark Bridge writes:

Last month, News Corporation's Rupert Murdoch said the News of the World had accounted for just 1% of his global business. It's a figure that put the overall size of News Corp into perspective.

This week, some analysis of Microsoft's financial results seems to suggest Windows Phone is only generating a similarly small percentage for its parent.

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Google claims 'hostile campaign' against Android by Microsoft and Apple

Mark Bridge writes:

David Drummond, Google's Senior Vice President and Chief Legal Officer, has just written a blog post that describes an 'anti-competitive strategy' against Android by companies including Apple, Microsoft and Oracle. Entitled "When patents attack Android", it points out that more than 550,000 Android devices are now activated every day... and says this has resulted in "a hostile, organized campaign against Android".

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I'm unconvinced about the new T-Mobile hybrid tariff

Mark Bridge writes:

I don't like marketing spin. You know, the kind of thing where the small print contradicts the headlines or where an embarrassing u-turn becomes a benefit. Given my chosen profession, I find it tends to stand out.

And so I turn my attention to T-Mobile's new 'You Fix' tariff. Sounds rather like T-Mobile's 2005 'U-Fix' tariff, but that may be coincidence. You pay a fixed monthly fee and - if you use all of your inclusive calls - you can add an additional allowance during the month by paying a bit more. Rather like buying a top-up on a prepay phone.

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Thursday, April 22, 2010

Virgin Media completes a major refinancing programme

Virgin Media, which offers a 'quad-play' combination of broadband, TV, fixed-line phone and mobile services in the UK, has completed a three-year refinancing programme. It says this has fundamentally changed the capital structure of its business, providing greater flexibility and scope for the use of any surplus future cash flow.

Over the past three years, Virgin Media has worked with its lenders to significantly change its debt mix from predominantly near-term bank debt to predominantly longer-term bond debt at attractive financing costs. During this period the company has issued $1 billion of convertible notes, £1.7 billion of senior unsecured notes and £1.5 billion of senior secured notes. It also successfully amended its senior credit facilities in October 2008 and again in October 2009 to improve repayment options and flexibility and today closed a new £1.9 billion bank facility.

Virgin Media says it now has a capital structure that will allow it greater focus on its operational plans and flexibility around the future use of cash flow, as well as driving top-line growth.

Eamonn O’Hare, Virgin Media’s chief financial officer, said, "Our focus has been to steer the business into a position where we have a long-term, fit-for-purpose capital structure that supports our ambitions. The completion of this process is a major achievement, particularly in light of the market conditions over much of the last three years. In order to overcome those issues in the credit markets, we have been innovative and proactive in our efforts to substantially reduce our refinancing risk."

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Categories: Networks and operators, NewsNumber of views: 7473

Tags: Virgin

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