NTL may avoid forced liquidation, according to report on FT.com today, which claims that the indebted cable group could sign a deal with its bondholders as early as this week.
The paper reports that a debt-for-equity swap with the bondholders is now on the table; such a transaction would give them a 95% stake in NTL. However, the company still requires a cash injection to see it through the coming months of administration.
NTL’s continued survival is key to the development of the UK television marketplace, particularly the uptake of digital television following the demise of ITV Digital.
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