Telewest restructuring approved

22 Jun 2004

Telewest Communications’ GBP3.8 billion financial restructuring has been ratified by two High Courts in the UK, paving the way for the company to begin trading on Nasdaq by 19 July. The debt-for-equity swap deal agreed by Telewest bondholders will see shareholders gaining 1.5% of the new equity while bondholders will take 98.5%.

United Kingdom