VMED (Virgin Media) reported today that it was in discussions with Liberty Global, which may lead to a takeover of VMED.
This news sent the shares up 424.82p (17.25%) to 2887.82p.
On 20-Jan-2013 I mentioned VMED as a potential special situation, at 2413p, on account of noticing that it was returning capital. I did not have a position, which is rather unfortunate given the news today. A missed opportunity to make a quick quid, although I was not to know that at the time.
Still, it’s always nice to discover that an idea I had went up, rather than down, in price.
I wouldn’t buy it now, because buying into bid speculation is too risky. It might be one to look at again if the bid fails.
Did anyone take a nibble when I mentioned it last month?