Virgin Media bonds up on UKTV stake sale, ratings impact uncertain

Virgin Media’s bonds rose slightly on Tuesday after the announcement the previous day that it would sell its 50% stake in UKTV to US broadcaster Scripps Networks Interactive. Virgin Media's £350m 8.875% 2019 issue was trading at 107.25, compared to 107.16 on Monday, while its 2018 £875m 7% notes also traded tighter, at 105.41 compared to 105.30.