Virgin Media is planning to raise up to £600m by selling off its NTL:Telewest business communications unit, according to The Times.

The paper reports that the company is keen to sell the asset in order to focus on its residential cable television, broadband internet and telephony services. It is understood that Virgin Media's advisers at Goldman Sachs prepared a plan to combine the business unit with Thus, which is now being acquired by Cable and Wireless.

Rumours also continue to persist that the cable operator is considering the sale of its content unit, Virgin Media Television. In March, it was reported that the unit was worth £800m.