ntl to Acquire Telewest, Consolidating Cable Market in UK

ntl confirmed plans to acquire Telewest for GBP 3.4 billion ($6 billion), creating the UK's second largest communications company with a cable footprint covering more than 50% of the nation's households. The combined company will have nearly 5 million customers, including 2.5 million residential broadband subscribers and the second largest fixed telephony supplier with 4.3 million subscribers.


The companies said their merger would allow an accelerated deployment of next generation services, including HDTV, VOD and VoIP.


Simon Duffy, ntl's CEO, said "This is a transforming transaction for the UK cable industry. It marks not only the culmination of a decade of consolidation but, more importantly, the creation of a new competitive force in the communications and entertainment sectors in the UK.
http://www.ntl.com
http://www.telewest.co.uk