NTL gone belly up, 20,000 jobs lost!

Trojan

Ok, so it's only a possibility, but a very real one according to the bean-counters...

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NTL 'most likely' telecom-related company to go bankrupt

NTL Inc, the UK's largest cable company, is the most likely telecom-related company to face potential bankruptcy, reports the Sunday Times, citing research from HSBC.
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<font face="Verdana, Arial" size="2">The investment bank rates both cable companies "not viable," adding that
"the combination of high losses, huge debt burdens and unstoppable spending
plans spells disaster down the line for equity holders."
Before NTL raised 388 mln usd of fresh funds from GE Capital on Friday, HSBC
estimated that NTL was set to exhaust its existing cash by the end of June.
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<font face="Verdana, Arial" size="2">NTL's revenues are dwarfed by debts of 9 bln stg.</font>

Al.

Skeptic1

Here's the story in the British Sunday Times:
http://www.sunday-times.co.uk/news/pages/sti/2001/04/29/stibusnws01026.html

A different version, mentioning the scrapping of services in Ireland, came out in the Irish print edition.

Of course NTL denies they are in any trouble. In any case you can get Coronation Street on TV3 now so I don't think there's any problem with NTL going bust.


[This message has been edited by Skeptic1 (edited 30-04-2001).]

Joe22

*go back to sleep joe, the nig bad world can wait*

bubbles

This is actually good news..... they might sell out there some some company who is actually capable of something could buy!

Blitzkrieger

Isn't NTL the almighty Bill's Internet company? Last I heard MS was pouring money into it to get a hold in the ISP market, which they see as a lucrative cash cow once the infrastucture is in place.

MiCr0

just to throw a spanner in the works

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AOL and NTL reported discussing European deal

AOL Time Warner, the world's biggest media company, is reportedly in talks with NTL about a partnership in Europe.

The US-based group, whose activities are concentrated in North America is thought to be interested in a broadband distribution deal and has approached NTL about forming an alliance, according to a report in The Financial Times.

AOL Time Warner does not have cable networks in Europe. An alliance would give it access to NTL's networks, allowing it to share revenues from broadband customers in exchange for its content.

NTL, which is listed in New York, has 8.5 million subscribers in the UK, France, Switzerland, Germany and Sweden and passes 20 million homes. Last week it raised £388 milion of financing from GE Capital, helping ease worries about its financial position.

The Financial Times says the deal would be the first sign that AOL Time Warner wants to expand beyond the US.

The company was formed by the completion of a £72 billion merger of America Online and Time Warner earlier this year.

The paper believes that the group first approached British Telecommunications but the company could not deliver the required broadband capabilities.

Mr Steve Case, AOL Time Warner chairman, last month raised hopes of rapid expansion into Europe as the company set itself the goal of raising international revenues from 17 to 50% over the next 10 years.
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from ireland.com

Kali

Yep article on skynews this afternoon about the AOl/Warner deal, whether anything concrete will come out of the talks has yet to be seen, whether such a large company would even bother continuing to upgrade their infrastructure in Ireland to loss returns is debatable.

logic1

*/me giggles*

Well this is true but I can tell you all for a fact that if it happens Ireland will be dropped totally..
Theres not enough money to be made here for AOL.

.logic.