The Register® — Biting the hand that feeds IT

Telewest gets debt holders onside

Capital restructure beckons

Free whitepaper – Dell PowerEdge servers 2009 - Memory

Telewest has secured the approval - in principle - of its main debtholders which will see the indebted cable company swap 98.5 per cent of its debt for new equity. That leaves existing shareholders with 1.5 per cent of the equity.

There's still a long way to go before Telewest comes out of the other side of the capital restructer - the bondholder's committee which waved through the deal must persuade 26 creditor banks to accept the terms.

Free from debt, Telewest will be free to pursue the long-mooted merger with NTL, the bigger UK cable operator.

Telewest's press statement is telewest_communications_restructuring_progress.htmlhere®

Hitachi IT Operations Analyzer: 30-day free trial.

Don’t Miss

DustbinDirty, dirty PCs: The X-rated picture guide

Ventblockers Horror beyond human imagination

SC09Top 500 supers - rise of the Linux quad-cores

SC09 Jaguar munches Roadrunner

Ubuntu teaser Early adopters bloodied by Ubuntu's Karmic Koala

Smooth Windows upgrade it ain't

Sign up, sign up for The Register IT security newsletter

Narrowcasting for the email classes