Cable company Telewest has agreed new terms for a two billion pound loan with its banks, writes John Oates
Cable company Telewest has agreed new terms for a two billion pound loan with its banks, writes John Oates

The eight banks have agreed terms which must now be approved by all the 30 banks owed money. The deal should be finalised by late next week, according to Reuters. Telewest shares on the London Stock Exchange rose sharply on the news.

Telewest aimed to get its debt restructuring finished by the end of November.

In a separate announcement rival firm NTL said its debt negotiations were continuing and would conclude shortly.

Topics