Ten won`t comment on Packer raid report

Ten Network Holdings Ltd has declined to comment on a report claiming media mogul
James Packer has launched a share market raid on the broadcaster, snapping up a 15
per cent slice of the company.
A News Ltd website report on Tuesday said it was understood investment bank UBS was
acting on Mr Packer's behalf, offering $1.50 per share via Prime Capital after the
close of share market trading.
Shares in Ten closed steady at $1.41 on Tuesday.
At $1.50 a share, a takeover bid would be worth $1.57 billion.
A Ten spokeswoman declined to comment on the report, while UBS was being sought for
comment.
Mr Packer earlier this month tightened his grip on Consolidated Media Holdings Ltd,
of which he is the deputy chairman, by lifting his stake to 49.67 per cent, from
47.92 per cent previously.
This came a day after rival media mogul Kerry Stokes increased his stake in
Consolidated Media to 24.4 per cent, from 23.3 per cent, via the billionaire's
investment vehicles including Australian Capital Equity Pty Ltd.
Mr Packer and Mr Stokes began tussling for Consoldated Media, which holds online and
pay television assets, mid last year.