Report: NTL may buy UK cable firm Telewest

October 3, 2005

A potential shakeup in the British cable market was under way Monday as NTL moved to acquire fellow operator Telewest in a deal valued at over $4 billion.

According to The New York Times, the transaction involves stock, cash and NTL's assumption of $4 billion in Telewest debt.

The deal would create a company worth about $10 billion with more than 7 million customers but with a heavy debt load stemming from acquisitions of smaller rivals made by both companies in the recent past.

The Times said NTL and Telewest have been buffeted in the marketplace in recent years and have been exploring a possible merger for several months.

Copyright 2005 by United Press International

Explore further: Britain feels heat of NTL's Virgin buyout

Related Stories

Britain feels heat of NTL's Virgin buyout

April 4, 2006

Getting more services for less money. That could well be what many British customers will be getting if NTL's buyout of Virgin Mobile works out as planned as they propose to offer mobile, fixed-line, broadband, and television ...

NTL's pending job cuts strike fear

May 8, 2006

NTL has been on a buying spree in recent months, but the time seemingly has come for the company to get its house in order and start getting leaner and meaner.

Britain's broadband wars heat up

October 18, 2005

The broadband wars are heating up in Britain, where Rupert Murdoch's BSkyB satellite TV operation looks set to fight BT and France's Wanadoo for market share.

Recommended for you

First stars formed even later than previously thought

August 31, 2016

ESA's Planck satellite has revealed that the first stars in the Universe started forming later than previous observations of the Cosmic Microwave Background indicated. This new analysis also shows that these stars were the ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.