A consortium of private equity firms may have their sights set on Virgin Media.

Led by Providence Equity Partners, the group of private equity groups is expected to make a $15 billion offer on the British cable company. According to Reuters, there has been renewed interest in Virgin Media ever since it lost customers in the Q1 2007, and it probably will lose more thanks to a bitter and ongoing dispute with BSkyB, a pay-TV company. Virgin Media formed when NTL, Telewest, and Virgin's mobile phone division merged.

Virgin Media has not yet commented on rumors of the buyout.

A private equity consortium headed by U.S.-based Providence Equity Partners is considering making a $15 billion approach for British cable group Virgin Media, The Observer newspaper said on Sunday.

Virgin Media declined to comment on the report.

(Continue reading this story on Reuters UK)

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