After a subpar 1Q, Virgin Media is now talking strategy.
Well, more like trying to convince its shareholders that there’s any strategy behind the company. Losses during the first quarter were about 74 cents/share. And now Franklin Mutual Advisers is calling a meeting with Virgin Media brass to find out what’s up. Franklin holds the second-largest stake in the company, owning 9.4 percent of its shares. Sir Richard Branson, Virgin Media’s biggest shareholder, has 11 percent.
As I put the final touches on a presentation on Branson for next week, I’ll be following this story.