No bid for NTL, but maybe for BT

Informed sources tell me there is no bid looming for NTL right now. There could be penalties for unwinding existing financing and the Virgin Mobile takeover is complicating the matter, as it is too far advanced to undo.

Earlier rumours about private equity approaching BT were denied by the latter. However, the same sources tell me that BT has now rejected a plan according to which the company would be split along the current divisional lines (Global, Retail, Wholesale). That leaves the possibilty of an hostile bid (not likely, I believe) or a full takeover bid (the size of which now seems less and less relevant).