Feeds

Telewest debt structure ‘better than NTL’

Who needs merger agony?

  • alert
  • submit to reddit

Build a business case: developing custom apps

Telewest, the cable company, has dismissed talks of joining forces with NTL, its bigger rival, after investors said they preferred its debt structure to NTL's.

Adam Singer, chief executive, said the company did not need to go through "the agony of a merger," a reference to a Competition Commission investigation should the two, the UK's only cable companies of any size, ever did decide to merge.

But neither of Telewest's two major shareholders, Microsoft and Liberty, had expressed enthusiasm for the idea, he told the Times.

Telewest pushed out some financials yesterday, showing income up 41 per cent £814 million in the nine months to September 30, but the pre-tax loss also grew and stood at £475 million.

The company's churn rate was up 1.5 per cent on the same period last year, but it was keen to stress that only 14.5 per cent of those who switched off the cable TV service had dropped Telewest completely.

The company's set-top box roll-out is now back on track, with a previous components shortage now under control, Telewest said. It expects to ship 350,000 by the end of the year and 500,000, sometime in Q1 2001. ®

Boost IT visibility and business value

More from The Register

next story
The Return of BSOD: Does ANYONE trust Microsoft patches?
Sysadmins, you're either fighting fires or seen as incompetents now
Microsoft: Azure isn't ready for biz-critical apps … yet
Microsoft will move its own IT to the cloud to avoid $200m server bill
Shoot-em-up: Sony Online Entertainment hit by 'large scale DDoS attack'
Games disrupted as firm struggles to control network
Cutting cancer rates: Data, models and a happy ending?
How surgery might be making cancer prognoses worse
Silicon Valley jolted by magnitude 6.1 quake – its biggest in 25 years
Did the earth move for you at VMworld – oh, OK. It just did. A lot
VMware's high-wire balancing act: EVO might drag us ALL down
Get it right, EMC, or there'll be STORAGE CIVIL WAR. Mark my words
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Scale data protection with your virtual environment
To scale at the rate of virtualization growth, data protection solutions need to adopt new capabilities and simplify current features.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?