Cable company Telewest Communications and pay-TV channel provider Flextech are reported to be close to completing a merger only days after the companies said that talks were “at a very early stage”. Last week the two groups were forced to announce that merger discussions were underway after their share prices began to rise (see Telewest And Flextech Reveal Merger Talks).
Reports at the weekend suggest that the £10 billion merger is now close to completion and that the main issue to be resolved is that of the new company’s management structure. It is expected that Telewest chief executive Tony Illsley and Adam Singer, chief executive at Flextech, will stay with the company. It is possible that a joint chief executive arrangement might be agreed upon.
Telewest provides carriage and access as the second largest UK cable operator with 1.4 million homes connected to its services; Flextech provides pay-TV content with its 15 themed channels, currently watched in over 17 million homes. Flextech’s channels include the UKTV portfolio, produced in partnership with the BBC.
Hello. We have downloaded cookies on your device. Some of these cookies are essential for the website to function. Others are non-essential and are used for analytics and advertising.
We need your consent for these types of cookies.
To withdraw your consent or change your cookie choices, please do this through your browser settings.
Otherwise, click OK to accept and continue.
