Videotron spokesperson Sylvia Morin said market conditions in Britain have "put a dent in the process" of selling the unit. Of particular note was the unsuccessful merger between giants British Telecommunications PLC and Cable & Wireless PLC which forced many players to reassess their positions.
Analysts' estimate the value of the British unit is worth between $524m and $708m. Videotron reportedly wants cash, or mostly cash, to bolster its funds for expansion of its North American cable operations including a move into the telephone business in Canada.
Copyright July 1996 Crain Communications Inc.