Sir Richard Branson's Virgin Group is understood to be in negotiations to roll out the Virgin Media brand across Europe.

According to The Times, Virgin is in discussions with the UPC-owned French cable operator Numericable to license the Virgin Media brand. The paper added that Virgin Group is expected to seek similar licensing deals in other European countries.

Under the terms of its agreement with Virgin Media, Virgin Group receives 0.25% of the cable group's revenues. It has placed on hold indefinitely an auction that could have seen it bought by a private equity consortium led by Carlyle due to global credit market volatility.