With probably the most open cable television environment in the world (the US would hardly allow so much of its cable television delivery business to be in foreign hands), the UK is quickly becoming the first port of call for US cable companies looking to expand internationally, and yesterday, it was announced that Englewood, Colorado-based Tele-Communications Inc, the company that plans to disappear into BellSouth Corp, is to take control of Flextech Plc, the Unlisted Securities Market counter that owns 50% of the Children’s Channel and 40% of the Family Channel, as part of a deal in which Flextech will take over the European businesses of Tele-Communications’ United Artists cable interests, paying UKP100m for them. The deal is expected to include United Artists’ 25% of the UK Gold satellite channel. Flextech will issue new shares to Tele-Communications, which is expected to end up with between 50% and 60% of the enlarged company.
