France telecom tops NTL bidders

$1.46 bil bid understood to be less than other suitors

LONDON — France Telecom has emerged as one of three bidders for troubled U.K. cabler NTL’s broadcast transmission business.

The reported £1 billion ($1.46 billion) bid is understood to be less than those of NTL’s other suitors.

The French telco, which owns 24% of NTL, carries debt of $60 billion, limiting what it can offer. The other bids are said to contain a greater cash element.

NTL — burdened with $16 billion of its own debt — is believed to be seeking $2.3 billion for the transmission business, which consists of 2,100 towers that broadcast commercial terrestrial TV across Britain. NTL is selling the business to help alleviate market fears that it is not fully funded until its projected break-even point in 2003.

More Biz

  • Mandatory Credit: Photo by AP/REX/Shutterstock (9178399b)Hillary

    Hillary Clinton Talks Russia, Trump, Putin and Midterm Elections at NYC Festival

    LONDON — France Telecom has emerged as one of three bidders for troubled U.K. cabler NTL’s broadcast transmission business. The reported £1 billion ($1.46 billion) bid is understood to be less than those of NTL’s other suitors. The French telco, which owns 24% of NTL, carries debt of $60 billion, limiting what it can offer. […]

  • Richard Simmons

    Prosecutors Charge Private Eye With Illegal Spying on Richard Simmons

    LONDON — France Telecom has emerged as one of three bidders for troubled U.K. cabler NTL’s broadcast transmission business. The reported £1 billion ($1.46 billion) bid is understood to be less than those of NTL’s other suitors. The French telco, which owns 24% of NTL, carries debt of $60 billion, limiting what it can offer. […]

  • Lionsgate General Counsel Left Amid Allegations

    Lionsgate General Counsel Left Amid Allegations of Sexual Abuse

    LONDON — France Telecom has emerged as one of three bidders for troubled U.K. cabler NTL’s broadcast transmission business. The reported £1 billion ($1.46 billion) bid is understood to be less than those of NTL’s other suitors. The French telco, which owns 24% of NTL, carries debt of $60 billion, limiting what it can offer. […]

  • 'Hammerhead' Takes Top Honors at New

    'Hammerhead' Takes Top Honors at New York Television Festival

    LONDON — France Telecom has emerged as one of three bidders for troubled U.K. cabler NTL’s broadcast transmission business. The reported £1 billion ($1.46 billion) bid is understood to be less than those of NTL’s other suitors. The French telco, which owns 24% of NTL, carries debt of $60 billion, limiting what it can offer. […]

  • Radiohead Coachella

    Radiohead Demands Answers in Drum Technician's Death

    LONDON — France Telecom has emerged as one of three bidders for troubled U.K. cabler NTL’s broadcast transmission business. The reported £1 billion ($1.46 billion) bid is understood to be less than those of NTL’s other suitors. The French telco, which owns 24% of NTL, carries debt of $60 billion, limiting what it can offer. […]

  • Kevin Durant LeBron James

    Kevin Durant Praises LeBron James' Lakers Move

    LONDON — France Telecom has emerged as one of three bidders for troubled U.K. cabler NTL’s broadcast transmission business. The reported £1 billion ($1.46 billion) bid is understood to be less than those of NTL’s other suitors. The French telco, which owns 24% of NTL, carries debt of $60 billion, limiting what it can offer. […]

More From Our Brands

Access exclusive content