By Kate Hanaghan, 18 January 2002 08:20
NEWS Cable operator NTL is seeking investment from AOL Time Warner, Liberty Media and Microsoft to stave off bankruptcy. The UK cable operator is being supported by France Telecom, which has an 18 per cent stake in the company, in talks to raise new funds or buy debt. However, investment would only materialise from current talks with these media giants if NTL restructures its $17bn debt. The talks are also thought to have stretched to private equity companies, according to a report in this morning's Financial Times. To take control of the company, an investor would have to put up as much as $2.5bn. An AOL cable company acquisition has been in the offing for some time while Microsoft already has a stake in the company. This month NTL will announce its financial expectations for the year and faces a $134m bond payment next month.
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