NTL linked to buyout talks

A private-equity consortium interested in buying NTL is due to hold talks with senior executives of the cable operator today over a possible £10bn (€14.8bn) buyout, reports said today.

The consortium, which is made up of US buyout group Providence Equity, Blackstone Group, Kohlberg Kravis Roberts and Cinven, is believed to have held talks with NTL in the past fortnight but no formal offer has yet been made.

Shares in NTL, listed on the New York Stock Exchange, were yesterday trading almost 3% higher, valuing the group at $8bn (€6.2bn). The company is also carrying more than £5bn (€7.4bn) of debt.