Now, one for all you fans of mergers out there. Cable companies NTL and Telewest have confirmed their long-awaited merger. As previously reported, the two major cable players want to merge their operations so that they can take on Sky and Freeview in the TV world, and BT on the phone and ISP front. It's taken a while for the two companies to reach an agreement on how exactly the merger is going to work - in the end it was decided that NTL will acquire Telewest for $6 billion. A joint statement yesterday confirmed the merger was going to take place, telling reporters: "The combined company will have the benefit of a much larger cable network and, together with Telewest's content division, will strengthen cable's position in the multichannel TV marketplace. Additionally, the transaction will create substantial synergies and provide the impetus for increased product and technical innovation."
Oct 4, 2005
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1 min read
NTL & Telewest confirm merger
Cable companies NTL and Telewest have confirmed their merger, with NTL acquiring Telewest for $6 billion to compete with Sky, Freeview and BT.