TeleWest Communications Plc, controlled by US West Inc and Tele-Communications Inc, is to merge its UK cable television operations with SBC CableComms Ltd, owned by SBC Communications Inc and Cox Communications Inc. A new company, TeleWest Plc, will exchange its shares for those of both companies – on a one-for-one basis in the case of the outside shareholders of TeleWest Communications. It will create the UK’s biggest cable operator with stakes in 31 franchises passing 4.1m homes, with 353,000 cable, 318,000 residential and 29,000 business phone users. The deal values SBC at ú679m; US West and Tele-Communications Inc will each hold 26.75% of the company; SBC and Cox each gets 10%.
