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June 15, 2009

Blavatnik offers to buy 51% of Setanta


by David Allen

A Russian billionaire, Len Blavatnik, is leading a group of investors interested in taking a majority share in Setanta Sports the pay to view satellite channel.

However, the price that the group is looking at spending is strictly rock bottom and is not likely to impress anyone involved in the satellite broadcaster in the immediate future.

The offer currently on the table is estimated to be between £20 million and £40 million for the majority share in the company.

Blavatnik is behind Access Industries which already holds five per cent of Setanta’s shares as well as a share in TopUp TV, a client of Setanta’s.

Currently the situation for Setanta is looking better than a week ago, but with offers coming in, Setanta’s management will have to pick wisely.

Story link: Blavatnik offers to buy 51% of Setanta


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