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Old 03-10-2005, 19:58   #220
Ignition
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Re: ntl & Telewest Merger Announcement

Quote:
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
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.
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