Sir Richard Branson's Virgin Mobile today confirmed plans for a stock market flotation in a move thought to value the company at more than £1 billion.
The market listing, which should be completed by the end of July, comes more than four years after the mobile phone arm of Virgin Group was set up.
Employees with the company for more than a year stand to benefit as they will be offered free shares expected to be worth hundreds of pounds.
The operation employs 1,400 staff at three sites - Trowbridge, London and Daventry - and has acquired around 4.1 million customers.
Full details of the float have not been disclosed, although it is expected that just under half of the group's shares will be sold on the market.
The move - still subject to market conditions - follows the flotation of Australian discount airline Virgin Blue last year.
Wednesday June 30, 2004
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article