Ten Appoints Citi Bank To Help With ‘Strategic Options’

Ten Appoints Citi Bank To Help With ‘Strategic Options’

Network Ten has released a statement following speculation the media company is looking to merge with Foxtel.

B&T Magazine
Posted by B&T Magazine

The statement from Ten explains Citi Bank has been appointed to help explore its options but as yet, no firm offers are on the table.

The statement:

“Ten Network Holdings Limited (ASX:TEN) (‘TEN’ or the ‘Company’) notes recent press speculation in relation to potential transactions involving the Company.

TEN has appointed Citi to assist in assessing a range of potential strategic options for the Company. TEN notes that while a number of potential strategic options have been considered to date, there is no guarantee any transaction will eventuate.

TEN will notify the market in the event that further disclosure is required in accordance with its continuous disclosure obligations under the ASX Listing Rules.”

The network has said there will be no further comment on the matter at this time.