The final price offered for Cablelink could be less than what has already been offered, one of the bidding parties claimed yesterday. Final binding bids must be submitted next month.

Mr John Riordan, vice-chairman of new business with United Pan Europe Communications, said "if anything the price could be lower" when the shortlisted companies carry out due diligence on Cablelink.

Last week it emerged that five companies signalled an interest in Cablelink. In descending order the bids were: £310£360 million; £300£350 million, £300 million, £275 million and £250 million. The other companies who submitted bids are NTL (known as Cabletel in Northern Ireland); Esat Telecom, Cable Management Ireland (CMI) and TCI Telecommunications Ireland, a partnership between a US cable and group and Princes Holdings, owned by Independent Newspapers.