URGENT ¥¥¥ Liberty Global buys Virgin Media for $23.3 bln

US-based cable operator Liberty Global said late Tuesday that it would buy cable television firm Virgin Media for $23.3 billion in cash and stock.

According to the terms of the agreement, Virgin Media stockholders will receive for each share of the Britain-based firm $17.50 in cash, 0.2582 Liberty Global Series A shares and 0.1928 Liberty Global Series C shares, which implies a price of $47.87 for each Virgin Media share.