NTL mulls restructuring plans
NTL has again denied speculation it's on the verge of insolvency.
The company says it's still on track to meet its fourth-quarter earnings targets.
Last week, the company announced 2,000 job cuts on top of 6,000 it has already made this year in a bid to control £12bn of debt.
NTL says it's also continuing talks over plans for its European operations.
The company will update investors on its revised business plan in the New Year.
Chief executive Barclay Knapp says: "We had hoped to announce details of the Broadcast transaction and the strategic options we are considering in Continental Europe by the end of this year.
"Unfortunately, this is not the case, but our new plans allow us to continue to approach these alternatives with the goal of maximising shareholder value."
The cable group is expected to cut back on its debt by offering its lenders equity and by selling its broadcast arm, which owns ITV's transmitter towers, in a £1bn deal.
It also plans to make cuts in its capital expenditure programme over the next two years.
