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October 19, 1995

NOW KONINKLIKE PTT BUYS FLEXTECH’s CABLE INTERESTS

By CBR Staff Writer

Dutch phone and postal company Koninklijke PTT Nederland NV yesterday make it clear that it is very serious indeed about the UK cable television and local telephony market: it bought 50% of Telecential Ltd, which has franchises covering the Midlands and the Thames Valley, in July (CI No 2,713), and yesterday it paid ú62.6m for the cable television interests of Tele-Communications Inc-controlled Flextech Plc. The interests are bundled up in IVS Cable Holdings and the buyer was the KPN Kabel unit of the Dutch company. The businesses hold licences for four franchises that together include about 216,000 homes; at October 13 they passed 25,030 homes and had 3,995 cable television subscribers.Flextech said that it plans to use the proceeds to expand its programming operations and build a rights network and library.

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