Ten plays down reports $85m Foxtel deal is close
Ten has played down reports that Foxtel is close to taking a 14.9 per cent stake in the company ahead of the network’s half year results later this week.
Ten reiterated previous statements that its strategic review process is continuing which “may or may not result in a transaction” and urged investors to use “caution in dealing in its shares on the basis of media speculation”.
“Network Holdings Limited (ASX:TEN) notes the article in today’s Australian Financial Review in relation to its strategic review process. That process continues and may or may not result in a transaction which is acceptable to TEN,” the statement on the ASX said.
“One component of that process involves discussions with Foxtel about the terms on which it may potentially invest in TEN.
“TEN will update ASX again when required to do so under its continuous disclosure obligations. In the meantime, TEN urges caution in dealing in its shares on the basis of media speculation about potential transactions involving the Company.”
Ten will report its half year results on Thursday.
