Microsoft withdraws Telewest board members
Henry Vigil, Salman Ullah and Dennis Durkin have all been removed as from today, and will not be replaced. As a holder of 23.6% of Telewest's issued share capital, Microsoft has had the option to nominate up to three representatives to the board as part of corporate shareholder agreements with the company.
"At present we believe that we will be in a better position to manage our relationship with, and investment in, Telewest without board representation," said a Microsoft spokeswoman. "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. Microsoft has no current plan regarding any such transactions, but reserves the right to change its plans at any time."