Cable nuptials near

World Brief

NTL and Telewest, the U.K.’s two cable operators, are moving closer to a long-anticipated £5.9 billion ($10.7 million) merger.

No formal offer has yet been made, but the companies have been engaged in intensive due diligence, with a deal likely within the next month.

NTL is expected to take over Telewest, but one sticking point has been the valuation of Telewest’s content business Flextech.

Both companies are listed on Nasdaq, and they have a number of major U.S. shareholders in common, including WR Huff Asset Management and Franklin, which support the merger.

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