Cable firms announce giant merger

Cable operators Telewest and NTL today announced plans to merge in a deal creating the UK’s second largest communications company.

The long-awaited tie-up, which has been forecast in the City for many months, will bring about the largest provider of residential broadband services in the UK with 2.5 million subscribers.

The tie-up will be structured as a takeover of Telewest by NTL and will create a company with combined revenues of around £3.4bn (€5m).