NTL's crisis deepens

NEWS NTL's woes continue to mount today, with news of an imminent profit warning adding to the growing doubt about its managers' ability to handle its £12bn debt. The Mail on Sunday reported yesterday that NTL is set to issue a profit warning, along with a public admission that it is struggling to restructure its debt. This had led the City to speculate that Barclay Knapp, NTL's chief executive, will be forced to hand over 51 per cent of the group's equity to anyone willing to inject funds into the company. His future at the helm may even be in question. The Business today quotes one source as saying: "Nobody is going to step up and rescue the group without taking control of the business."