THE firm behind East Lancashire's cable television and telephone network looks set to change hands in a multi-billion pound deal.
NTL is in exclusive talks to merge with Cable & Wireless Communications which has thousands of local customers.
In a statement to the stock market, telecoms group Cable & Wireless, which owns a controlling stake in CWC, said it was conducting the talks with NTL, which has received financial backing from France Telecom.
It is thought NTL has tabled an £8 billion bid for the company.
NTL's offer reportedly includes a mixture of cash and shares in the combined group.
It was lodged after France Telecom last week invested 1 billion US dollars (£613.5 million) on a 10 per cent stake in NTL.
If the NTL bid succeeds, France Telecom is thought to be prepared to pump a further four billion dollars into the company.
NTL, while being a British company, is quoted on the Nasdaq exchange in the US. It could also seek a listing in London if its bid succeeded.
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