Telewest shareholders to accept lower bid from ntl
# Jul 25, 07:41 PM by Mick
The Independent reports that Telewest’s US-based shareholders are willing to accept a lower bid from ntl to apparently speed up their merger plans. Shareholders are now ready to accept a bid of around $23.50, which would knock almost $120Million off the price of the cash and shares bid for the company.
The Independent reports that shareholders had held out and hoped for a bid of $24 per share.
The UK’s two largest cable companies, ntl and Telewest are expected to announce their merger, towards the end of next month or early September.
More over @ The Independent.