Liberty Global has announced it would decide this week whether or not to bid on Virgin Media, reports the Times Online.

Virgin's television and broadband operations went up for sale after being approached by The Carlyle Group last month. The board of Liberty Global, Europe's biggest cable operator, will decide whether it wants to compete against an ever-dwindling number of bidders.

Some companies have already dropped out because of weakness in the assets of banks that would finance such a deal. Others said they're not convinced of Virgin Media's business model.

Liberty could be swayed to drop out by either of these points or fears over the competition from BskyB, should it go ahead and aquire Virgin's operations.