Cable & Wireless Communications, the UK’s largest cable operator, will today terminate its listing on the London Stock Exchange following regulatory approval of its £8.2bn takeover by US-owned NTL network, formerly number two in the cable marketplace.

Secretary of State for Trade and Industry, Stephen Byers, raised more than a few eyebrows in the financial establishment last November when he referred the deal to the Competition Commission. But yesterday he sanctioned the takeover by approving France Telecom's investment in NTL - a critical element in NTL’s funding to buy C&WC.

News source: The Times (London)