Feeds

NTL flogs Irish cableco

Telewest merger step closer

  • alert
  • submit to reddit

The essential guide to IT transformation

NTL has flogged its cable business in Ireland, fuelling speculation that it is clearing the table to begin merger talks with Telewest.

Yesterday evening the cableco announced it had sold its Irish business to UnitedGlobalCom for €325m (£222m). MS Irish Cable Holdings, a subsidiary of Morgan Stanley, will hold the stake on UGC's behalf, until the deal gets regulatory clearance.

NTL is use the cash from the sale to "repay principal amounts outstanding under its senior credit facility in accordance with the terms of that facility".

NTL chief exec Simon Duffy chipped in: "This transaction reinforces our commitment to maintaining a clear focus on growing and improving our UK communications and content distribution businesses."

The sale of NTL's Irish business is widely viewed as a precursor to the eventual merger of NTL and Telewest to create an enlarged digital TV, telecoms and broadband company that could compete more effectively with Sky and BT.

In February NTL completed the £1.27bn ($2.3bn) sale of its broadcast division to a consortium led by Macquarie Communications Infrastructure Group. ®

Related stories

NTL - Telewest 'preps merger'
Resellers get double-barrelled DSL
French cableco front runner to buy NTL Ireland
Voda punter receives mobile manhood snap
Broadband boost helps NTL trim losses
NTL email floored nationwide
NTL to trump BT in March assault
NTL completes £1.27bn sale of broadcast division

Next gen security for virtualised datacentres

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
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.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
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?