According to latest press reports, Flextech is also emerging as a rival bidder for SelecTV. Pearson is believed to be about to place a £45m bid for SelecTV, the company that makes Birds of a Feather and Lovejoy. (Newsline 18/12/95).
Flextech is believed to be in talks with SelecTV; Flextech may put up its 20% stake in STV in exchange for a controlling interest in SelecTV. That would give Flextech’s backers, US cable operator TCI a chance to extend its UK television interests.
A report in today’s Independent claims that Pearson has uncovered some unusual transactions and “creative accounting” which have delayed its bid process; however, it is expected to make its bid tomorrow, with two provisos; SelecTV has to sell its cable channel and also its 15% stake in Meridian.
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