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NTL losses spiral

Up by a third... can't be good can it...
Written by Ian Jones, Contributor

Up by a third... can't be good can it...

NTL has admitted it's losses have increased 33 per cent to £713m, blaming high interest payments on its £12bn debt. According to reports in the Financial Times, interest repayments jumped from £281m to £356m quarter-on-quarter. Analysts were expecting the telco to announce further details of the company's plans to sell its mast business as well as its stake in the Swiss cable firm Cablecom. However, the telco remained tight-lipped on both areas, in spite of heavy pressure to reduce its debt mountain.
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