Cable & Wireless Communications plc has announced the formal terms of the Offers to be made for Bell Cablemedia plc and NYNEX CableComms. The terms of the Offers are as follows:
Each BCM ordinary share will be equivalent to 0.69389 CWC ordinary shares.
Each NYNEX CableComms UK ordinary share will be equivalent to 0.330714 CWC shares.
The Offers mark the next step towards the formation of Cable & Wireless Communications, announced in October 1996 *Cable Companies Merge, which is aimed at creating a leading provider of integrated telecommunications, information and entertainment services in the UK.
Upon completion of the transactions, the C&W Communications Group will be the largest provider of integrated telecommunication and television entertainment services in the UK; it will serve approximately 1.2 million telephony customers and approximately 580,000 cable TV customers. The Group will provide a broad range of local, national and international voice and date services, and in certain regions multi-channel TV and Internet services.
It is intended that applications will be made for C&W Communications on both the London and New York Stock Exchanges.
* Subscribers only
C&W Communications: 0171 315 4495
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