NTL’s Irish sell-off moves closer

INTEREST from potential buyers in cable TV operator NTL’s Irish business has been “considerable”, the company’s British parent said yesterday.

NTL confirmed months of speculation that its Irish business was on the market when it released its full-year results yesterday. “We are evaluating strategic alternatives for our business in the Republic of Ireland, which may include divestiture,” the company said. “Considerable interest has been expressed by prospective purchasers.”

Among the names being linked with NTL’s Irish operations are American cable firm UGC, which owns southern-based cable operator Chorus, and John Riordan, the Irish-born former top executive at Dutch cable giant UPC. American merchant banking outfit Veronis Suhler Stevenson is also in the running.