NTL to buy Telewest for $6 billion
Reuters has the news that NTL are set to buy Telewest for $6 billion (around £3.4 billion) in a combination of cash and shares.
At this early stage there is no news of what if any changes customers will see, but it seems Telewest Chief Executive Barry Elson will stand down, and the NTL Chief Executive Simon Duffy will take over as chief executive of the two combined companies. While on paper it would seem this super cable company should be a more effective competitive with BT, there is a real danger that it may make life harder for the emerging LLU market.
Update 11:30am, The press release announcing the merger can be found at the Telewest Media Centre.