NTL Shares Up on Takeover Speculation

LONDON, August 17: Shares in British cable company NTL were
up today on press reports of a potential £10 billion takeover bid by a
consortium of private equity firms.

According to Reuters, the group is led by Providence Equity with
Kohlberg Kravis Roberts, The Blackstone Group and Cinven. The firms have been
eyeing NTL for some time and reportedly approached the company before its
acquisition of rival platform Telewest. It is not clear if the firms have begun
formal talks about the renewed bid for the company, which recently acquired
Virgin Mobile.