UK telecoms group NTL is expected to make a revised bid for Virgin Mobile.
Virgin Mobile's board has rejected a tentative approach worth 323p a share, valuing the phone company at £817million.
The UK's Daily Telegraph reports that NTL could make a formal bid as early as next week.
NTL, which is in the process of merging with cable company Telewest, wants Virgin Mobile so as to offer television, broadband, internet and telephony services.
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