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Liberty rubbishes Klesch claim
It’s normally seen as the stuff of TV cop dramas, but a US court has heard lawyers for the private investment banker Gary Klesch accuse Liberty Media of hiring a surveillance team to search rubbish bins in the hope of finding material that would shut Klesch out a 50-50 partnership to buy six of Deutsche Telekom’s regional cable networks. The accusation from lawyer Michael Bowe came at the beginning of a fraud and breach of contract trial in Denver. The case dates back to a March 2001 agreement that was looking to buy the Telekom networks for $2.5 billion. Three months later Liberty went it alone to put forward its own bid of $5 billion. The deal was ultimately thrown out by German competition authorities. Liberty says there was no legal obligation to pursue the agreement with Klesch. The case continues.