Feeds

NTL flogs Irish cableco

Telewest merger step closer

  • alert
  • submit to reddit

Eight steps to building an HP BladeSystem

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

Mobile application security vulnerability report

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
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.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.