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.
- 1 Forget 'The Dress': Here are five of the biggest news stories you might have missed
- 2 The black and blue dress: Makers considering a white and gold version
- 3 Prince Harry leaving the armed forced to pursue conservation projects in Africa
- 4 PornHub turns masturbation into energy in bid to save the planet
- 5 The remarkable archaeological underwater discovery that could open up a new chapter in the study of European and British prehistory
Boris Nemtsov shot dead: Outspoken Putin critic who had expressed fears for his life is killed near the Kremlin
Leonard Nimoy dead: Star Trek Spock actor dies after suffering lung disease
PornHub turns masturbation into energy in bid to save the planet
Ukraine crisis: Top Chinese diplomat backs Putin, says West should 'abandon zero-sum mentality'
White and gold or blue and black – what colour is the dress? An eyewitness gives a definitive answer
New theory could prove how life began and disprove God
Half of Ukip voters say they are prejudiced against people of other races
This is what it's like to be dead, according to a guy who died for a bit
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Aqsa Mahmood branded a 'disgrace' by her parents after claims she recruited three UK girls flying to Middle East
iJobs Money & Business
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...
£250-£300 Day Rate: Jemma Gent: Are you a qualified accountant with strong exp...
£230 - £260 Day Rate: Jemma Gent: Do you want to stamp your footprint in histo...