Advanced Television

Virgin Media buys in $300m of shares

November 14, 2011

By Chris Forrester

Virgin Media has spent $300 million on buying in and cancelling its own NYSE-issued stock.  On November 11th the $300 million was issued to Goldman Sachs as part of Virgin’s capital return scheme.

This purchase is part of a Board-approved plan to spend a total of £875 million (about $1.4bn) on buying back its own stock. To date it has allocated $372 million on the activity leaving a further $1.02 billion for spending by 2012.

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