SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
November 6, 2002
Telewest Communications plc
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(Translation of Registrant's Name into English)
Genesis Business Park, Albert Drive, Woking, Surrey, United Kingdom, GU21 5RW
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(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F X Form 40-F
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Indicate by check mark whether the registrant by furnishing the information
contained in this form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
YES NO X
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If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82- _____.
EXHIBIT INDEX
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Exhibit Description
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99.1 Press release, dated November 6, 2002, announcing Disposal of
interest in SMG plc
SIGNATURE
Pursuant to the requirement of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
TELEWEST COMMUNICATIONS PLC
Dated: November 6, 2002 By: /s/ Clive Burns
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Name: Clive Burns
Title: Company Secretary
EXHIBIT 99.1
TELEWEST COMMUNICATIONS PLC (`TELEWEST')
DISPOSAL OF INTEREST IN SMG PLC ("SMG")
6 November 2002
Following the approval of the Company's shareholders given at an EGM on 4
September 2002, Telewest has placed its entire 16.9% shareholding in SMG with
institutional investors. The placing was managed by Schroder Salomon Smith
Barney. The shares were placed at a price of 85p per share and the placing will
realise proceeds of (pound)45.1 million.
Commenting on this announcement, Charles Burdick, managing director, said:
"We are pleased to have placed the SMG shares at a fair price and the proceeds
will be utilised to further our progress in our core business."
ENQUIRIES:
TELEWEST
JANE HARDMAN, DIRECTOR OF CORPORATE COMMUNICATIONS 020 7299 5888
Richard Williams, head of investor relations 020 7299 5497
BRUNSWICK
JOHN SUNNUCKS/SARAH TOVEY 020 7404 5959
NOTE TO EDITORS:
Flextech, Telewest's content business, bought the 16.9% stake in SMG plc in
1995. The Company stated on 13 August 2002 that it was considering selling this
non-core asset to help preserve its financial flexibility. A loan of
approximately (pound)26.3m from Toronto Dominion bank was secured against the
stock and repaid on 29 October 2002.
Telewest Communications, the broadband communications and media group, currently
passes 4.9 million homes and provides multi-channel television, telephone and
internet services to around 1.8 million UK households, and voice and data
telecommunications services to around 74,300 business customers. Its content
division, Flextech, is the biggest provider of basic channels to the UK pay-TV
market and is the BBC's partner in UKTV, which has a portfolio of pay-TV
channels based on the corporation's programming, including UK Gold.
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