Coatue Management Discloses New Stake in Virgin Media (VMED) ~ market folly

Monday, May 14, 2012

Coatue Management Discloses New Stake in Virgin Media (VMED)

Philippe Laffont's hedge fund Coatue Management just filed a form 13G with the SEC regarding shares of Virgin Media (VMED).  Per the filing, Coatue now owns 5.21% of VMED with 14,463,301 shares.

This is a brand new position for the hedge fund as they did not report holdings in the name at the beginning of the year.  The new activity was reported due to trading on May 2nd.

Per Google Finance, Virgin Media is "engaged in entertainment and communications business. The Company has two segments: Consumer and Business. The Company is a provider of broadband Internet, television, mobile telephony and fixed line telephony services that offer a range of entertainment and communications services to residential and commercial customers throughout the United Kingdom."

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