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C&W gets bullish about UK cable reorgs

The time for talking is over, cable giant wants some action

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Cable & Wireless is starting to throw its weight around over the restructuring of the UK cable industry. It says the multibillion dollar process must now be completed by the end of the month, with C&W chief executive Graham Wallace adamant that the talks not drag on into the summer holidays. C&W controlled Cable and Wireless Communications and Telewest have been in conference since last year, with no sign that either company has made any headway. Meanwhile, the third player, NTL, has been trying to get a foot in the door for the last three months, and there is speculation over offshore interest from Deutsche Telekom and France Telecom. C&W is looking to fund its expansion into the data and Internet services arena, and is likely to settle for a deal involving part payment in cash. ®

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