Telewest in pounds 50m deal with Racal
Thursday 23 January 1997
The investment will link Telewest's regional cable franchises based around London, Bristol, the West Midlands, the North West, Tyneside and Scotland by 1998, allowing many phone calls and cable television services to be transmitted without using the existing fibre networks of BT and Mercury.
Racal, the defence electronics group, is close to signing contracts to lease capacity on its BRT fibre network which it bought from British Rail two years ago for pounds 133m. Of the total investment it is thought about pounds 10m could flow through to Racal in a deal expected to last for 15 years.
The agreement will be seen as further distancing Telewest from some of the other cable operators that are in the process of merging with Cable &Wireless's Mercury subsidiary in a pounds 5bn deal. Telewest is thought to have previously discussed joining the merger with Dick Brown, C & W's chief executive.
Stephen Davidson, Telewest's acting chief executive, also promised to offer a digital television service to cable customers by the end of this year, the same timetable as BSkyB. He said he was close to agreeing contracts with companies to make set-top boxes to access programmes.
Telewest yesterday said its total residential customer base had grown by 34 per cent last year to 768,755. The strongest increase in demand was for telephone services, rising 46 per cent to 627,009 customers, compared with 528,142 television subscribers.
Mr Davidson also disclosed that a decision was due soon on whether to appoint him as permanent chief executive. A board meeting held last Tuesday again failed to resolve the appointment.
- 3 Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
Ashya King missing: Police hunt five-year-old boy with brain tumour snatched from Southampton hospital by his parents
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
Californian drought is so severe it's 'causing the ground to move'
Botched ice bucket challenge leaves man critically injured after plane drops hundreds of gallons of water
Exclusive: We share blame for creating 'jihad generation', says Muslim strategist
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
- < Previous
- Next >
iJobs Money & Business
£32000 - £38000 Per Annum Bonus, Life Insurance + Other Benefits: Clearwater P...
£200 - £250 per day + competitive: Orgtel: KYC Analyst, Key Banking Client, Bi...
£400 - £500 per day: Orgtel: Test Manager - Banking - West Yorkshire - £400-£5...
£450 - £500 per day: Orgtel: SAS Developer, Chester, Banking, DI Studio, £450-...