Cable firms set to invest

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The Independent Online
Cable firms set to invest pounds 2.2bn

British cable companies expect to invest about pounds 2.2bn and create over 2,000 jobs during 1996, according to an industry association forecast. Next year will see record levels of cable construction, with another 2.7 million homes passed, bringing the total to around nine million homes by the end of the year - or about 45 perc ent of all homes in the UK, the Cable Communications Asssociation said.

Separately, Nynex Cablecomms said it had total revenue for the year to December 1995 of pounds 85m, 107 per cent ahead of the year before. TeleWest, the largest cable operator announced a cut-rate telephone service for its areas, promising discounts of 15 per cent off BT's rates.