NTL and Telewest, the rival UK cable operators, are expected to announce this week their long awaited merger.
The two sides are said to be close to signing a deal, involving a cash and shares offer by NTL for Telewest at $23-24 per share, thus valuing the smaller group at $5.6-5.8bn.
The combined group could present a powerful challenge to Sky's business in the UK.
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