Australian regional pay television company Austar United Communications Ltd. (AUN.AU) said Friday a newspaper report that its major shareholder, Liberty Global Inc. (LBTYA), had agreed on a price with rival pay television operator Foxtel for a takeover bid was "uninformed and inaccurate".

"In particular, no agreement has been reached between LGI and Foxtel, including with respect to price," the company said in a statement.

Austar said no assurance could be given that discussions between Liberty Global, which owns 54% of Austar, and Foxtel would lead to a proposal being put to Austar or its shareholders.

The Australian Financial Review reported Friday that Liberty Global and Foxtel had set a price of A$1.49 per share for a A$1.9 billion takeover bid.

Austar shares jumped 6.5% in early trading and at 2330 GMT are up 3.4% at A$1.36.

Foxtel is part owned by Australian telecommunications giant Telstra Corp. (TLS), News Corp. (NWS.AU) and Consolidated Media Holdings Ltd. (CMJ.AU).

A Telstra spokeswoman declined to comment, while a spokesperson for Foxtel was unavailable for comment.

-By Gavin Lower, Dow Jones Newswires; 61-3-9292-2095; gavin.lower@dowjones.com
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