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Telewest shareholders to accept lower bid from ntl

# Jul 25, 06:41 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.

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