NEWS NTL's decision to cut its debt mountain by promising lenders equity has led shareholders to believe that fellow cable company Telewest will do the same. The market did not respond well to the speculation, closing 2p down on the day. Early trading this morning has seen a slight recovery. Telewest's debts total £5.1bn. As a result of a decision reached earlier this week NTL is to file for Chapter 11 and $10.6bn of debt will be converted into equity.
Telewest: will it follow NTL's lead?
Equity for debt, it's all the rage...
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