Telewest and NTL to merge

CABLE companies NTL and Telewest are set to announce plans for a £6.8 billion (€10.06bn) merger by the end of the summer, it was reported yesterday.

It is understood that NTL, which recently sold its Irish operations, will make a cash and shares offer for Telewest before the summer is out, and possibly as soon as the end of this month.

The two groups, which are both listed on the US Nasdaq Index, have long been linked as likely tie-up partners, with a combined group better placed to take on bigger rivals such as BSkyB.