10 October 2005
NTL has become the second largest home telephone provider in the UK after securing the takeover of Telewest.
Sealed last week, the deal ensures that the company will have 4.3 million fixed-line subscribers, and will be able to provide cable coverage for over half of the nation's households.
The transaction is expected to be closed in the first few months of 2006, and Telewest shareholders will own roughly 25 per cent of the new NTL.
James Mooney, chairman of NTL, stated that the deal will provide a boost to the market and broaden the range of options available to its customers.
He said: "This pro-competitive combination will provide customers with improved access to competitively priced and flexible communication and entertainment services."
NTL's network can service 7.9 million homes in the UK, and it is then country's largest cable company with 3.3 million residential customers. Its home phone rates include unlimited landline calling from £12.50 per month.
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