SRM Global Master Fund LP has once more increased its holding in Virgin Media, it has emerged. The Securities and Exchange Commission filing shows the hedge fund now holds a stake in Virgin Media of 9.1%. In December SRM Global Master Fund held 7.1%.
The Monaco-based fund has also been building a stake in the troubled UK mortgage bank Northern Rock. Virgin Media’s largest shareholder Sir Richard Branson has been looking to purchase the Rock, which is currently being supported by the government after it became Britain’s most high profile casualty of the credit crunch.