Quote:
Originally Posted by Stuart C
It's worth noting that then NTL management were looking at a PVR that was capable of MPEG4, something which, several years later. the current management have just started rolling out. The largely Telewest managed VM decided to go for MPEG2 (although I accept they probably had good reason for this).
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Ex-ntl had more seats on the board than ex-TW. The TV Drive was chosen for cost reasons.
---------- Post added at 17:08 ---------- Previous post was at 17:07 ----------
Quote:
Originally Posted by m419
Well back to the point, Why on earth did NTL acquire Telewest and Virgin Mobile, it should have been the other way round, Telewest was much better under its own brand name and ownership.
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Telewest needed someone to pay for all the network upgrades they had avoided doing for the previous years.
---------- Post added at 17:16 ---------- Previous post was at 17:08 ----------
Quote:
Originally Posted by Pierre
Well I might aswell indulge as I'm on my lunch break. From memory.
NTL acquired Telewest, however on paper on the wheeler dealer side of things, I'm pretty sure the deal shows that Telewest acquired NTL and operationally it more of amerger than any one company taking over. In many areas of the business Telewest working practices and procedures were adopted, as were NTL ones in Telewest areas. Many top jobs went to Telewest management.
So to say that NTL "took over" Telewest in not accurate.
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Quick couple of snippets:
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Under the terms of the transaction, approved by the boards of both companies, Telewest shareholders will receive $16.25 in cash and 0.115 shares of ntl stock for each common share of Telewest they own, for a total consideration currently valued at approximately $6 billion or approximately $23.93 per share. On this basis, upon completion Telewest shareholders will own approximately 25 per cent of the enlarged ntl.
The Board of the enlarged company will consist of all the current directors of ntl plus two directors from Telewest.
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The seriously big decisions would have been all ntl.