NTL mast sale brings in the punters

NEWS The bidding for NTL's mast business is hotting up as two private equity firms have stepped into the arena. Apax Partners and Hicks Muse Tate & Furst and are bidding for the cable company's mast business alongside France Telecom, which is thought to be interested in teaming up with one of them to make a joint bid. NTL hopes to sell the business for around £1.4bn although a more realistic figure is thought to be £1.2bn. The company has brought in Goldman Sachs to help find an appropriate buyer. Crown Castle International is also thought to be interested in the company, although that particular bid may attract regulatory attention as Crown Castle is the NTL unit's key rival in the UK. NTL is seeking a buyer for the broadcast mast business as it wants to clear some of its £10bn-plus debts. For related news, see:
France Telecom makes a play