Speculation mounts over NTL sale
The British cable giant, which snapped up the state-owned Cablelink in 1999 for €680m before filing for bankruptcy refused to comment on reports that it had hired a major investment bank to oversee the sale.
The company's finances remain under considerable pressure, with a debt burden of over €4.5 billion. This acts as a drain on cash, with yearly interest payments of approximately €300 million needed to service the debt. The sale of NTL Ireland would help cut this debt.
