British MSO NTL Inc. won approval from investor France Telecom and its
bankers to convert $10.6 billion in debt into equity in two new companies -- NTL
UK and Ireland and NTL Euroco.
As part of its recapitalization plan, the company said some of its U.S. and
U.K. holding companies would issue bonds under prearranged Chapter 11 bankruptcy
packages.
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