Flextech bids for Channel 5 stake

– Flextech, the UK pay television company, is understood to have made an offer to buy an 18 percent stake in Channel 5.

– Flextech, the UK pay television company, is understood to have made an offer to buy an 18 percent stake in Channel 5.

The sale of the stake is expected to value Channel 5 at about one billion pounds, according to The Guardian newspaper today.

The two-year old television channel has a five percent audience share and is owned by Pearson , United News and Media and Germany's CLT-Ufa.

However, any sale is likely to be complicated by the fact that the existing shareholders have the right to match any external offers.

It is also understood that BSkyB considered the stake but declined to put in an offer.







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