Bill McDonald

American businessman Bill McDonald, who lost a crucial Privy Council hearing in October in his battle for control of Bermuda Cablevision, has been in Bermuda over the last few weeks to negotiate a settlement with his chief adversary, Bermuda Telephone Company. Sources said that an end to the long-running saga over Cablevision's ownership is in sight and that a listing of the highly profitable company's shares on the Bermuda Stock Exchange will quickly follow a settlement.

Bermuda Telephone Company yesterday won a major court victory in its battle to gain control of the highly profitable Bermuda Cablevision from a foreign entity. The Privy Council in London effectively refused to strike out a lawsuit brought on behalf of BTC at Bermuda Supreme Court against Bermuda Cablevision and the US-based McDonald group.