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Originally Posted by setch
If you work for NTL then a sure fire way of p***ing of your new colleagues, is to remind them of the fact that NTL bought out Telewest. Who knows your next line manager may be heritage Telewest.
I assume that this was not a hostile take over and that Telewest agreed to let NTL buy their stock at a mutually agreed price.
Which everway you try and paint this picture, it is for all intents and purposes a merger of equals.
Setch
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That'll be why ntl shareholders will have essentially control over 75% of the new company and the majority of the new board will be ex-ntl board. Silly me I'd have put that down as a takeover, even if it is a friendly one.
If it were a merger of equals there would have been no cash element and Telewest shareholders would have received 50% of the new company's share capital along with 50% of the board. They didn't, which accurately reflects ntl's larger coverage, wider service range and bigger turnover, along with lower debt and better financial position.