Virgin Radio considers flotation

Virgin Radio, part of Richard Branson's empire, said yesterday that it is considering floating the company to raise funds for international expansion. However, Robert Devereux, managing director of Virgin Communications said no firm decision had been made. "It is an option. It's something our advisers are talking to us about. But we do not need to float the company in order to raise the funds."

Virgin Radio has contacted stockbrokers about a possible float which would value the company at around pounds 70m. Richard Branson floated the Virgin group in 1986 but took it back into private hands two years later. Mr Devereux said Virgin had never ruled out floating parts of the group.