Cable operator Telewest Communications says it will buy rival General Cable in a cash-and-stock deal valued at 649 million pounds (US$1.1 billion). Telewest of Woking, England and General Cable of London say their merger would create a powerful player in Britain's cable and telephone industry, with interests in 43 cable franchises. The deal values General Cable at 61% more than its closing stock price on Feb. 20, just before the company said it was engaged in takeover talks.

http://www.telewest.com/

(Source: USA Today)