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ntl to flog TV towers

# 23 September 2004, 14:58 by Frank

According to yesterday’s Scotsman, ntl has instructed Goldman Sachs to sell its network of television transmission towers to cut its £3 billion debt by about £1.2billion.

An information memorandum will be sent to potential bidders in the next fortnight.

ntl has been encouraged to sell its transmission arm after rival Crown Castle UK was bought by the National Grid Transco, the infrastructure group, for £1.1bn.

Buyers are likely to be venture capitalists.

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