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NTL can't count on us - France Telecom

Troubled cable firm looks elsewhere for cash injection...
Written by Jon Bernstein, Contributor

Troubled cable firm looks elsewhere for cash injection...

France Telecom - the owner of an 18 per cent stake in NTL - said it wouldn't help out the debt-laden cable company anytime soon. The French telecoms giant said yesterday it would not feel a "cash impact" as a result of any financial restructuring at NTL. It did admit, however, that it would have to take an unspecified accounting charge to reflect the reduced value of its stake in NTL, according to the Daily Telegraph. NTL has appointed Credit Suisse First Boston, JP Morgan and Morgan Stanley to advise it on the best strategy for restructuring its $17bn debt. For more on NTL,
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