Wednesday, 20 June 2018

Comcast scraps Time Warner Cable bid

By Nick Wood, Total Telecom
Friday 24 April 15

Consumer group cheers as cableco's $45.2 billion acquisition fails to win over competition regulators.

As expected, U.S. cable giant Comcast on Friday abandoned its $45.2 billion plan to acquire smaller rival Time Warner Cable (TWC) in the face of staunch opposition from competition authorities. "Today, we move on," said Brian Roberts, CEO of Comcast, in a statement. "Of course, we would have liked to bring our great products to new cities…

As expected, U.S. cable giant Comcast on Friday abandoned its $45.2 billion plan to acquire smaller rival Time Warner Cable (TWC) in the face of staunch opposition from competition authorities. "Today, we move on," said Brian Roberts, CEO of Comcast, in a statement. "Of course, we would have liked to bring our great products to new cities…

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