TEN addresses AFR reports on Foxtel bid

Ten Network Holdings Limited told the ASX yesterday it noted the article in Monday's Australian Financial Review in relation to its strategic review process.

A short ASX statement added: "That process continues and may or may not result in a transaction which is acceptable to TEN. One component of that process involves discussions with Foxtel about the terms on which it may potentially invest in TEN.

"TEN will update ASX again when required to do so under its continuous disclosure obligations.

"In the meantime, TEN urges caution in dealing in its shares on the basis of media speculation about potential transactions involving the Company."