The proposed £649 million takeover of General Cable by Telewest (see Telewest Buys General Cable For £649m) was completed yesterday, further consolidating ownership in the cable industry.
Telewest’s chairman, Gary Ames, said: “This merger is an important milestone in the consolidation of the UK cable industry and we believe it has created a powerful group that is better positioned to compete in our target markets.”
Telewest now reaches almost one third of UK cable homes, a total of 5.8 million; it also serves the largest number of residential cable customers in the UK.
The company recently appointed Tony Illsley as its new chief executive, replacing Stephen Davidson who stepped down following the General Cable takeover, and David Van Valkenburg who was acting chief executive for the interim period (see Telewest Appoints New Chief Executive).
Telewest: 01483 750 900
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