Shareholders at UPC, Europe’s largest cable operator, have approved plans to press ahead with a restructuring programme that will enable the group to emerge from bankruptcy protection.
UPC, which has more than 7 million subscribers across the continent, ran into trouble after acquisitions and network upgrades failed to achieve the desired return (see UPC Files For Bankruptcy). Nonetheless, it remains one of the prized assets of the Liberty Media Group and aims to complete recapitalisation by the end of March.