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Suzanna Kerridge, Paris correspondent
Published: 8 August 2000 14:47 BST
France Telecom has sold its 49.9 per cent stake in French digital television company, Noos, to British cable operator NTL and Morgan Stanley Dean Witter.
The E1.35bn (£814m) transaction will transfer a 27 per cent stake to NTL and 22.9 per cent to Morgan Stanley Dean Witter. The remaining 50.1 per cent share of Noos will stay under the control of Suez Lyonnaise des Eaux who initially set up the company to market its cable activities.
The deal, which is expected to be finalised by the end of the year, values each Noos subscriber at E3,700 (£2,233) bringing the total value of the company E2.7bn (£1.63bn). The company currently has 736,000 subscribers mostly in the Paris area.
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