NTL is both Divi and Cube (chip side) customer!
US CORP BONDS - NTL gains on hookup with Microsoft
NEW YORK, Jan 25 (Reuters) - News that computer software giant Microsoft Corp. (Nasdaq:MSFT - news) would invest $500 million in Britain's NTL Inc. (Nasdaq:NTLI - news), as part of an agreement to jointly develop a high-tech communications network in the United Kingdom and Ireland, sent NTL debt several points higher, traders said.
NTL's 12-3/4 zeros gained three points to trade at a 69 bid, while the telecommunications company's 10 percent issue jumped four points to a 106 bid, traders said on Monday.
Microsoft's investment in NTL will accelerate NTL's deployment of high-speed voice, video and data services over its national fiber-optic telecommunications networks and will speed up NTL's introduction to advanced internet, telephone and cable television services over its broadbank network, the firms said in a statement.
''NTL and Microsoft share a common vision for the delivery of new and exciting digital technologies and services to NTL cable customers in the UK and Ireland,'' said Craig Mundie, Microsoft's senior vice president for consumer strategy.
''We are very excited by the opportunities we will have for expanding customer choice and control of their future TV experience,'' Mundie said.
Microsoft and NTL, a provider of local business and residential telephony, cable television, and internet services over advanced broadband fiber networks, said they will work together closely on the development of new digital services.
The firms said they intend to enter into further agreements regarding software and services as opportunities arise in 1999 and said they will form a Technology Group to guide the development of new digital services.
biz.yahoo.com |
