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NTL and Telewest make it official
Posted by: eusty on Friday, March 03, 2006 - 08:40 PM
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Telcos NTL and Telewest have finally signed the deal to form a merger between
the two.
The combined company has been renamed NTL Incorporated, and it's joint
network can service more than 12 million homes, 50%
of UK households, and 85% of UK businesses. At the present time it has
approximately 5 million customers.
Former NTL stockholders now around roughly 75% of the combined company, and
Telewest stockholders the other 25%, but for the man on the street, things will
not appear to be any different as they will operate as two companies for the
time being.
"This combination of two industry leaders positions us to better
fulfil our commitment to serve our customers."
"We are excited to now move forward as one entity that has the
experience and resources of both companies, coupled with an
unsurpassed breadth of communication products." |
| Jim Mooney, chairman of NTL |
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