TeleWest, the largest cable TV company in Britain has announced today that it is to merge with SBC Cablecommunications,the UK’s fifth largest cable company. The deal, which provides for the issue to each existing shareholder in TeleWest of one share in the new group for each share already held, values SBC at £679 million. The merged group would be worth over £2.3bn.
SBC is owned and controlled by Cox Communications of the US and Southwestern Bell. It has franchises covering 1.2m homes, concentrated in areas in and around Wolverhampton, Telford and Shropshire and in Liverpool and parts of Lancashire.
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