By Sylvia Carr, 12 October 2004 14:20
NEWS NTL's television and radio broadcasting business is generating plenty of interest according to a report in the Financial Times.
The UK cable operator has received at least 15 offers for the unit which may sell for as much as £1.2bn, the paper says.
Bidders include private equity firms and infrastructure companies such as Australia's Macquarie Bank, Apax Partners and Terra Firma, according to the report. National Grid Transco is expected to stay out of the running because of regulatory and timing issues; it recently purchased the Crown Castle towers.
Yesterday was the deadline for the first round of bids and many bidders are expected to drop out by the next deadline on 22 November, the FT says.
NTL emerged from Chapter 11 bankruptcy last year and by next year is expected to be in merger talks with fellow UK cable operator Telewest.
NTL declined to comment on the report, with a spokesperson saying only that the company has appointed Goldman Sachs "to help it review strategic options" and that "no decision has been made".
Separately, NTL has been advised by telecoms regulator Comreg to better publicise the withdrawal of telephone service from 2,000 customers in Dublin. Comreg says the company should set up a freephone line and put adverts in local newspapers explaining to customers that they should unplug certain pieces of equipment in their homes that NTL believes may become a safety hazard.
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