Easynet confirms bid approach

A telecoms company at the centre of speculation over BSkyB’s move into the broadband market confirmed today it had received a takeover approach.

Whilst not revealing the identity of the suitor, Easynet is thought to be the target of the satellite broadcaster as it looks to take on cable rivals NTL and Telewest and become a direct competitor to the likes of BT and AOL.

Analysts have put a value of up to £150m (€220m) on Easynet, which has its own equipment in 250 local BT exchanges, giving it direct access to 5.8 million homes and 850,000 businesses in the UK.