Two Largest French Cable TV Companies Up for Auction

03 April 2002

Noos and NC Numericable – the two largest cable TV operators in France – have been put up for sale, according to a report in French business daily Les Echos.

Noos, owned by an investment consortium, has been hit by the default of ailing Anglo-US cable giant NTL, holder of a 27% stake in the company for which it failed last week to stump-up a deferred payment. This prompted other investors commanding a majority of the equity to put Noos up for sale.

Rival NC Numericable, owned by Canal Plus, itself part of Vivendi Universal, is already being wooed by three suitors – thought to include AOL Time Warner and Liberty Media, the latter’s ardour whetted by its recent rejection by German competition regulators.

Data sourced from: Financial Times; additional content by WARC staff