NTL In Merger Talks with ITV

LONDON, November 9: ITV shares were up some 8 percent today
following news that cable operator NTL has approached the British media company
about a possible merger.

ITV today confirmed that it has received from NTL a “highly
tentative expression of interest in holding discussions about a possible
combination of NTL with ITV.” The company’s board said it is willing to “listen
to any bona fide proposal, but to date no meeting has been held nor has any
proposal been received. Accordingly, there can be no certainty that any
compelling construct will be forthcoming, still less that any merger or
takeover will result.”