NTL Stock Rises Over Possible Newcastle United Takeover

Stocks in US-based cable company, NTL, were boosted yesterday following reports that the group is to re-enter its takeover talks with Newcastle United Football Club. Earlier in the year NTL made a £160 million offer for 50.7% of the club; this offer was then withdrawn in April following BSkyB’s failure to buy Manchester United (see BSkyB’s Man Utd Takeover Is Blocked).

At the closed of the NASDAQ market yesterday NTL’s share price was up by $4.63 to $88.63. A spokesperson for NTL would not confirm that talks with Newcastle were up and running, saying the position is as it was in April when NTL said it would review opportunities in football as and when they arrived (see NTL Backs Out Of Newcastle United Bid).

NTL launches its digital television service on 1 September this year and is aiming to sign up a quarter of a million customers by mid-2000 (see NTL Aims For 250,000 Digital Subscribers By Mid-2000). NTL currently has around 943,000 customers to its analogue cable television service; this is 28.1% of its 3.62 million passed homes.

NTL: 01252 402 000