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Microsoft execs jump ship from Telewest | |
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||
| Time: 04:03 EST/09:03 GMT | News Source: The Register | Posted By: Alex Harris | ||
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Shares in Telewest slipped seven per cent (0.5p) to 8.38p by mid afternoon following news that Microsoft had pulled three non-executive directors from the cableco's board. Microsoft - which owns 23.6 per cent of Telewest's shares - said it had taken the decision because it believes it "will be in a better position to manage [its] relationship with, and investment in, Telewest without board representation." Continued Microsoft in a statement: "Microsoft expects to continue to evaluate Telewest on an ongoing basis and, in that regard, will continue to consider, among other things, purchasing or selling Telewest securities or engaging in possible strategic transactions involving Telewest. | ||
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