The biggest stakeholder in QVC Inc. opposes the $2.2 billion bid for the home-shopping cable-TV company by Comcast Corp., according to a magazine interview.
The opposition comes from Tele-Communications Inc. chief executive John Malone, who controls the biggest stake in QVC.
“We are not happy selling our stake in QVC on the basis of the proposal made by Comcast,” Malone said in an article in the July 25 issue of the New Yorker.
Malone said Tele-Communications, known as TCI, and Liberty Media, a programming group being merged with cable-TV giant TCI, did not want to cash out of QVC and wanted to remain a partner in it.
Comcast last week offered $2.2 billion for the share of QVC it does not own. That bid derailed a planned merger between QVC and CBS Inc.
