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General

FLEXTECH WANTS TO BUY TCI UNIT

Tuesday 26 October 1993 | 00:00 CET | News
Tele-Communications (TCI) (US), broadcasting group, may have its programming business in Europe, called United Artists European Holdings, acquired by Flextech (UK), cable and satellite television company. The companies are currently holding talks and hope to complete a deal by Christmas 1993. Under the terms of the proposed deal, Flextech will acquire TCI's European programming business in exchange for shares, giving TCI a 50%-60% stake in the enlarged Flextech group. The planned acquisition is expected to give Flextech a market value of around GBP200 mil, vs GBP77 mil at present. The deal would give Flextech a 75% stake in The Children's Channel, vs a 50.1% stake at present, a 24% stake in UK Gold, a 35% stake in UK Living, soap opera and quiz show channel, and a 100% stake in Bravo, film and TV series channel.

Categories: General
Countries: Europe
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