NTL keen to keep hold of UKTV stake

NTL is planning to restructure its acquisition of Telewest to keep hold of Flextech's 50% stake in UKTV, The Telegraph reported today.

The BBC, who owns the other half, has the right to force NTL into selling its share because of a control clause in their agreement.

NTL, however, is planning to get around the clause by restructuring its purchase of Telewest so that it merges with "a wholly owned subsidiary" of the cable firm.

Asked about the clause, NTL chief exec Simon Duffy told investors last week: "Yes, that just reflects the fact that we need to find a way to deal with the change of control provisions around UKTV and the BBC.

"It just gives us more flexibility in those discussions, which we have already begun with the BBC about how we will make all that operate."