Jones Intercable, Bell Canada Intl. and Cable & Wireless Plc are consolidating their cable television and telephone operations in the United Kingdom.
The new company will be named BCETI Cable Ltd., with Bell Canada owning 80% and Cable & Wireless owning 20%.
The consolidating will accompany a public-share offering of BCETI Cable, which will become the third-largest cable TV/telco company in the U.K. in terms of number of homes served in its franchise areas.
Holdings & equity
As part of the transaction, Jones will contribute its U.K. cable holdings and Cable & Wireless will contribute its equity interest in Jones Cable Group of Leeds Holdings in exchange for shares in BCETI Cable.
BCETI’s major presence will be in the London metropolitan area, Yorkshire, East Anglia and South East England.