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TELEWEST POISED TO TAKE STRATEGIC STAKE IN CHELLO

News, 05 June 2000


Number two in the UK cable network rankings, Telewest Communications, is expected to announce this week its intention to take a10% stake in Chello Broadband. Chello, a subsidiary of Netherlands-based European cable TV network United Pan-Europe Communications, provides Europewide high-speed internet services.

No-one is saying how much Telewest’s stake will be worth, although insiders suggest that UPEC may take a significant stake in Telewest as part of the deal.

Given the major shareholdings in the UK company of Microsoft and AT&T-owned Liberty Media Group (both with major web interests of their own) a cosy technology alliance could be in the making – a development that would not be without interest to EC competition authorities.

News source: New York Times