Thursday, November 09, 2006
ITV and NTL you must be joking
On the day that interest rates in the UK rose to a 5 year high of 5% the Finance story that took my fancy was that ITV and NTL are in merger talks.
Now I've been predicting an ITV takeover for nearly a year and have bought and sold shares as the rumours have ruffled the metaphorical curtains of the city but I really find this idea a bit rich.
Serial bankrupt NTL (now working as Virgin Media) to buy troubled (but profitable) ITV.
Why -so Stephen Carter can have a job where he used to (NTL)?
What's the synergy (about zero)?
To me this looks like a marriage made in hell, I'll probably be proved wrong but I've sold my ITV shares anyway.