UPC renounces SBS

TV 3 will not get a new international partner.Dutch communications group United Pan-Europe Communications (UPC) has withdrawn its takeover offer to SBS Broadcasting, which holds 50 percent of TV 3. The reason was UPC's weak stock market price, the company announced at the beginning of the week. Since the takeover was announced, UPC shares have fallen from 83.32 to 21.40 euros.