NTL Calls Off Wedding With Telewest

19 November 2002

The widely anticipated merger between Britain’s two major cable operators, NTL and Telewest, is no longer on the cards, investors will be told later this month.

It is believed that NTL ceo Barclay Knapp will announce that the company has no plans for such a deal when it emerges from bankruptcy protection later this month. It believes its UK operations are of sufficient size to succeed on their own.

There has been much speculation linking the two US-owned firms and it was widely assumed merger talks would begin in earnest once both had completed complex debt-for-equity restructuring schemes.

Indeed, Telewest is said still to favour a deal with NTL, considering it the only way to create viable respective competition to BT Group (telephone) and BSkyB (pay-TV).

Data sourced from: Telegraph.co.uk; additional content by WARC staff