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To: lkj who wrote (5828)	7/12/1999 1:56:00 AM
From: lkj	Respond to of 10309

Here is a news on potential cable mergers in Britain. If I remember correctly, C&W was testing out NCI's cable boxes last year. But Microsoft will be involved in this again, since it has stake in both the 2nd largest and the 3rd largest cable providers in English. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 20 billion pact Cable & Wireless may buy cable firm By Alexander Davis, CBS MarketWatch Last Update: 2:10 PM ET Jul 11, 1999 LONDON (CBS.MW) -- Cable & Wireless' cable television unit reportedly will acquire Britain's No. 2 player in a move that could create a company valued at $20 billion and trigger talks for a three-way merger. The Observer of London said Sunday that Cable & Wireless Cable's bid for NTL Inc. (NTLI) puts aside, at least for now, speculation that Cable & Wireless (CWP) would seek a combination with Telewest, the nation's third-largest cable company (TWSTY). However, Telewest may be lured back to the bargaining table to try salvaging some piece of NTL in a three-way deal, The Observer said, without citing any sources. The newspaper said Cable & Wireless and NTL may already have looked into the regulatory implications of combining two increasingly key, convergent elements of next-generation high-speed Internet services -- telephone and cable TV operations. Not far in the background is none other than Microsoft (MSFT), which owns a 5 percent stake in NTL and a 30 percent position in Telewest. NTL, formerly called International CableTel, has a market value of $6.3 billion. The company operates a digital fiber-optic network to provide Internet access, TV programming and local and long-distance telephone service for nearly 2 million customers in the British isles. Ahead of the report, shares of NTL rose 4 1/8, or 5 percent, to 86 1/4 on the Nasdaq. Last week, New York-based NTL completed its $695 million acquisition of Cablelink, Ireland's biggest cable-television operator. Cable & Wireless, Britain's No. 1 telecommunications company, is worth $31.5 billion. Its U.S.-listed shares dipped 3/4 to 39 1/4 in Friday trading on the New York Stock Exchange, while Telewest's American depositary receipts gained 1 1/4 to 47 5/8