Eastern Group Sells Telecom Business to NTL

British electricity and gas supplier Eastern Group has sold Eastern Group Telecoms (EGT) to NTL Inc. for 91 million British pounds (US$153 million).

EGT's fiber optic telecommunications network provides services to other telecommunications providers and Eastern Group. EGT recently invested in a 20 million British pounds (US$33 million) network expansion program in Kent, Sussex, and Surrey to help open up the UK market to European telecommunications providers.