Banks are lining up to win what could be one of the year's biggest takeover mandates after Liberty Media indicated that it wants to either buy out QVC, the cable network, or sell its 42% stake.
Investment banks have been alerted to the decision by Liberty Media, the US media holding company, to trigger a possible tussle with partner Comcast, the US cable group, for ownership of QVC. Analysts estimate that QVC, a channel dedicated to paid programming, could be worth more than $13bn (€12bn).