NTL, the Nasdaq-listed cable operator and new owner of Cablelink, is early next week expected to unveil details of its proposed £8 billion sterling takeover of the residential cable assets of Cable & Wireless Communications.

Advisers to the two companies were last night working through details of the deal, which could be announced as early as Tuesday. However, people close to the transaction cautioned that the sheer weight of paperwork still to be cleared meant the timetable could slip.

Meanwhile, it has emerged that NTL remains keen to tie up a deal with Telewest, the rival cable group, once the CWC deal has been announced. "NTL are encouraging Telewest to join the party," said one adviser.

NTL and CWC have signed a 21-month exclusivity agreement that prevents either company from agreeing a deal with Telewest until their own transaction is completed - a process that is expected to take at least six months from the moment the deal is announced.