By editorial@silicon.com, 18 December 1998 15:27
NEWS US cable company NTL is set to take a controlling share in Newcastle United Football Club. NTL's Premium TV arm has bought a 6 per cent stake in the club from director Douglas Hall for £10m. The shares were sold at 111.7p per share, below last year's 135p floatation price. As part of the deal, NTL has the option of buying Hall's remaining 51 per cent stake in the club for £81m. The company said it will wait for the outcome of the Monopolies and Mergers Commission investigation into BSkyB's Manchester United buyout before going ahead. NTL, which is listed on Nasdaq, owns cable franchises in Scotland, the Midlands and Teeside.
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