Shares in Telewest climbed over 4% today amid renewed speculation that the company was about to be taken over by rival NTL.
After prices reached their lowest level since December 1998 on Friday they bounced up to a high of 140źp this morning after a report in the Independent On Sunday said that UPC, which controls 25% of Telewest, was ready to give its stake to NTL. Such a move would be likely to be copied by Microsoft, which also owns 25% of Telewest and NTL would then have to bid for the remaining assets.
Both companies would receive NTL’s European assets in return for their stakes, according to the report.
Telewest: 01483 750 900 NTL: 01252 402 000
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