SRM Global Fund holds 13.2 million shares (4.04%), after selling 12.6 million on Sept. 3 for $12 per share.

Virgin Media (VMED) was upgraded to Overweight at Morgan Stanley. $20 price target. 3Q is believed to mark the first acceleration in top-line growth since the NTL/Telewest Merger. In addition, rate increases at ARPU will carry into '09 driving YoY EBITA.

Virgin Media (VMED) was downgraded to Hold rating from Buy at Jefferies. Price target dips to $16 from $22 while FY08 eps estimates lowered to loss of $3.02.

Sharesheld: 9,500,000

Leon Cooperman

Buy - Price 16 on Jan. 29
by Morgan Joseph

U.K. authorities ruled against Sky's stake in ITV -- a positive for VMED given the content-threat removal...Cable-provider Virgin's priority in the near-term is to reduce churn. Target: 26. Market-cap: $5.2 billion.

Virgin Media (VMED) was upgraded from Hold to Buy, Citigroup said. $20 price target. Stock is down 50% since the summer, and is alredy pricing in fundamental challenges.

Take over target

From Barron's 8-11-07:

"SRM Global Fund General Partner reported holdings of 19,992,900 shares (6.1%), by buying 6,688,300 from June 7 to July 31 at prices ranging from $24.19 to $28.42."

Hoping for a buyout!