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ITV say no to NTL
Posted by: eusty on Tuesday, November 21, 2006 - 08:05 PM
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ITV has formally rejected a
takeover bid
£4.7bn takeover bid by cable operator NTL.
The NTL bid was worth £1.20 for each ITV share, but they were outbid for
Rupert Murdoch's BSkyB who took 18 percent of ITV's shares for £1.35 each. This
prompted Richard Branson, who is NTL's biggest shareholder to call for Ofcom to
investigate.
| "The board believes that whereas there is obvious appeal to NTL in
gaining control of ITV's substantial and successful business, from ITV's
perspective there is little, if any, strategic logic for ITV to combine
with NTL." |
| ITV statement |
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| ITV say no to NTL | Log-in or register a new user account | 0 Comments |
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