Telewest buys Eurobell
It's a cableco-eat-cableco world out there
Telewest Communications is to fork out £250 million for Eurobell in a move that will increase its cable network reach in the UK
Eurobell - owned by Deutsche Telekom - supplies telephone, Internet, data and cable TV services to residential and business punters in the south of England.
It holds franchises in Crawley, west Kent and south Devon but also boasts backbone network across the south east of the country.
Adam Singer, group CE of Telewest, said: "The purchase of Eurobell is a terrific opportunity to expand our network by acquiring the last significant independent cable operator in Britain.
"Moreover, its franchise areas fit perfectly with our existing network in southern England, providing us with even more customers in some of the most affluent parts of the country.
During the year to 31 December 1999, Eurobell generated revenues of £35.5 million and made an earnings before interest, taxes, depreciation, and amortization (EBITDA) loss of £.2 million. At the same time it also recorded net assets of £204.9 million. ®