/>
X

No Noos good news for NTL

French deal is one less headache
zd-defaultauthor-tony-hallett.jpg
Written by Tony Hallett on

French deal is one less headache

NTL is to sell back its stake in French cable company Noos to France Telecom.

Embattled NTL paid $625m for the unit last year, borrowing the funds to do so. However, now it looks likely that it wouldn't be able to meet a repayment deadline, so the French national carrier - itself an owner of 18.3 per cent of NTL - has agreed to buy back the stake.

Investment bank Morgan Stanley is the other owner of Noos.

Separately, France Telecom has written down to zero its investment in NTL, bought at the height of the telecoms bubble.

Related

He flew American Airlines, she flew United. For both, the unthinkable happened
screen-shot-2022-06-30-at-10-14-36-am.png

He flew American Airlines, she flew United. For both, the unthinkable happened

Business
CERN is firing up its Large Hadron Collider at record energy levels, in search of dark matter
cern-photo-202011-145-2.jpg

CERN is firing up its Large Hadron Collider at record energy levels, in search of dark matter

Innovation
Giant data breach? Leaked personal data of one billion people has been spotted for sale on the dark web
close-up-of-a-womans-hands-typing-on-a-keyboard-in-the-dark.jpg

Giant data breach? Leaked personal data of one billion people has been spotted for sale on the dark web

Security