Virgin Group Ltd holds investment talks with the DIC

Dubai: Virgin Group Ltd has held informal talks with Dubai International Capital (DIC) about securing investment backing from the $12 billion sovereign wealth fund, Britain's Times reported on Wednesday.

Possible financial support for Virgin could come from a sale of a stake in Virgin Active, which runs health clubs, or a
mobile phone joint venture in the Middle East, the newspaper said.

A group of Virgin executives is understood to have visited Dubai recently to meet DIC officials to discuss potential deals, the newspaper said.Jehad Saleh, a spokeswoman for DIC, owned by the ruler of Dubai, could not immediately be reached for comment.