7/2/2009 11:02:00 AM
20:20’s parent reportedly loses £85m amid Setanta collapse
Doughty Hanson, 20:20 Mobile’s private equity parent company, is reported to have taken a loss of £85m.
The loss comes as one of its most high profile investments, Irish pay TV firm Setanta, collapsed last week.
20:20 is on a much more solid footing now than it was two years ago, since Doughty Hanson and its debt syndicate restructured the ownership, debt and shareholding. Doughty Hanson gave the syndicate a share in the equity in exchange for writing off 60% of its £265m debt.
20:20 is only one of Doughty Hanson’s two UK interests, with other investments in Europe.