NTL abandons ITV takeover
CABLE operator NTL said today that it had abandoned its £4.7 billion bid for ITV.
The company announced it had "no present intention" of making an offer for the broadcaster and said it was unlikely to strike a deal "on terms acceptable to NTL".
ITV had already said there was "little, if any, strategic logic" for a tie-up with NTL.
The cable company's decision came after BSkyB bought a 17.9 per cent stake in ITV.
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Friday 17 February 2012
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