By Kate Hanaghan, 12 June 2002 17:45
NEWS NTL lost more than 73,000 UK customers over a three month period while the company carried out rescue talks with investors. This figure equates to about 800 people a day in its residential internet access, telephony and cable TV services. During the three months up to the end of March its customer base dropped in the face of a desperate attempt to put together a debt-for-equity swap deal. The company reduced its pre-tax losses from $1.1bn to $600m in its latest financial quarter, and has temporarily abandoned any attempts to acquire new customers. However, it plans to resume spending towards the tail-end of this year. But the shrinkage in its customer numbers in the UK looks likely to continue until it comes out of Chapter 11 - which it expects to manage in September.
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