News
[PSUs]| Friday 5th November 2004 |
NTL and Telewest merger 'as early as 2005'
11:12AM, Friday 5th November 2004
The long-anticipated merger of the UK's two cable providers, NTL and Telewest, may occur as early as next year, the Wall Street Journal reports.
Telewest Global has been talking to US investment banks, while NTL is selling off its television transmission business to streamline itself in preparation for a merger.
Merger speculation has surrounded the two companies since they hoovered up the UK's smaller cable providers in the mid- to late 1990s. However both subsequently incurred huge debts and it was only when both succeeded in rescheduling those debts that a merger was back on the agenda.
Although they operate exclusively in the Europe - Telewest using the blueyonder moniker for its broadband Internet activities - they are both US companies, listed on Wall Street's Nasdaq stock market.
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