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The first of the early telegraph companies was the Electric Telegraph Company, founded in 1846 by Sir William Fothergill Cooke (one of the inventors of the telegraph) and a number of City financiers. Prior to the Post Office takeover in 1870, some of the companies had already amalgamated or been taken over by competitors. For example: the Electric Telegraph Company and the International Telegraph Company merged in 1855, and the London Telegraph Company formally changed its title to London and Provincial Telegraph Company in December 1857.