Hollick rules out cable merger
Thursday 14 August 1997
United had been courted by NTL's head, Barclay Knapp, as part of a plan to merge with Telewest to create a rival to Cable & Wireless Communications, the UK's largest cable company. However, a source close to United said yesterday: "United never had any intention of joining the talks."
City observers said United's presence in the merger would have given the consolidated group greater clout, and would have added impetus to the rationalisation of the industry.
NTL, which announces its second-quarter results this morning, said it was merging its three customer operations departments into one over the next six months. Its Fleet office will also be absorbed into offices in Farnborough and Guildford.
A spokeswoman for NTL said last night that upwards of pounds 1m would be saved by the job cuts and reorganisation of the business. She added that further cost cuts and redundancies could not be ruled out, and that some of the 50 redundancies announced yesterday would be senior positions.
The news comes just one week after Telewest, the second biggest UK cable company, said it was to slash 1,400 jobs, a quarter of its workforce. The company also said it would slow down its investment spending and would inject more funds into marketing.
The cable industry has come under fire from the City in recent months as the number of customers signed up has failed to increase as fast as anticipated.
elephant appealThe first 23 lots in our charity auction have now gone. But there are 22 more still up for grabs
Look beyond the usual shows for the best festive telly
Geoffrey Macnab does not like the comedian's big screen debut
The battle for control of Stieg Larsson's £30m legacy
Ten best places to live in the UK: Hart in Hampshire takes top spot
French pub fined €9,000 after customers returned empties to bar - because it's 'undeclared labour'
David Cameron takes his biggest gamble yet as he gets tough on Europe over immigration
Burglar steals video tapes of child abuse, hands them into police
Paul Walker's daughter Meadow attends Justin Bieber Believe premiere
- 1 Tim Sherwood challenges Daniel Levy to set out vision for Tottenham Hotspur’s future
- 2 French pub fined €9,000 after customers returned empties to bar - because it's 'undeclared labour'
- 3 Sun will 'flip upside down' within weeks, says Nasa
- 4 #Teamnigella: It’s the only side to be on
- 5 Christmas comes early: Justin Bieber is 'retiring from music'
- < Previous
- Next >
iJobs Money & Business
£59999 - £80001 per annum + Benefits: Pro-Recruitment Group: A Top 10 firm in ...
£50000 - £75000 per annum + benefits + bonus: Harrington Starr: Project Manage...
£60000 - £90000 per annum + benefits + bonus: Harrington Starr: Business Analy...
£Negotiable: Citifocus: High calibre individual with institutional client serv...