TITLE

U.K.'s ITV Nixes NTL's $8.9B First Offer

AUTHOR(S)
Farrell, Mike
PUB. DATE
November 2006
SOURCE
Multichannel News;11/27/2006, Vol. 27 Issue 47, p35
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the rejection of NTL Cable's deal to purchase ITV Corp. in Great Britain. According to the statement released by ITV, the $8.9 billion deal was rejected because the board of directors believe that the visible appeal of NTL is to gain full control of all the substantial and successful business venture of the company. However, NTL shareholder Richard Banson accused British Sky Broadcasting Group PLC (BSkyB) of blocking the transaction by purchasing ITV's stock shares.
ACCESSION #
24978113

 

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