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NTL races against the clock to complete recapitalisation

NTL, the debt-laden cable company, warned it may run out of cash before being able to complete its debt restructuring process.

NTL, which is struggling to trim its $17bn (€19.4bn) debt burden, appointed Credit Suisse First Boston, JP Morgan and Morgan Stanley in January to advise it on the recapitalisation, which it hopes to complete by the third quarter.

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