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Money firms sniffing around NTL/Telewest

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Four private equity groups look set to pool resources in a bid to snap up NTL and Telewest once the UK cablecos merge next year.

So reports The Sunday Times, which names the cash quartet as Blackstone Group, Cinven, Kohlberg Kravis Roberts (KKR) and Providence Equity Partners.

It seems the group is prepared to stump up £6bn for the enlarged cableco although sources told the paper that the deal still might not come to anything.

Earlier this month NTL and Telewest finally agreed to merge in a deal that values Telewest at around £3.4bn.

Once the deal is completed, the pair - whose cable networks do not overlap - will be able to provide TV, phone and broadband to more than half of UK homes.

The combined group will have almost five million residential punters and is set to be the largest provider of domestic broadband services in the UK with 2.5m subscribers.

The WSJ has already reported that private equity groups were interested in NTL/Telewest. ®

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