Tony Illsley, chief executive of cable group, Telewest Communications, today said that he is disappointed by Cable & Wireless’ decision to enter exclusive talks with rival cable company NTL (see NTL Enters Exclusive Negotiations With Cable & Wireless).
In a short statement issued by the company earlier this afternoon, Illsley said: “Naturally, we are disappointed by Cable & Wireless’ decision. We continue to believe that Telewest represents the best merger partner for Cable & Wireless Communications’s cable interests. The momentum in Telewest’s business is strong and we shall continue to focus all our efforts on developing it and releasing the full potential of broadband cable.”
Telewest says that it will monitor the situation between Cable & Wireless Communications (CWC) and NTL very closely. Both Telewest and NTL have submitted bids to CWC of £8 billion. However, NTL now has a 21 month exclusivity in negotiating a final deal with CWC.
