Austar United Communications Ltd (ASX:AUN) has responded to media commentary regarding a potential takeover bid for Austar by Foxtel.
The statement says that Austar has not formally received a proposal of this kind.
The company adds that it is aware of verbal discussions between Foxtel and US based Liberty Global, Austar’s largest shareholder regarding a possible acquisition.
It adds that no assurance can be given that the discussions will lead to a proposal.
Austar reported a profit of $99.65 million for the year ending 31 December 2010.
