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.

WSJ Logo