NTL, which emerged from Chapter 11 bankruptcy protection yesterday, has admitted that the outlook for the UK cable market is still bleak and is cutting back on sales and investment projections it made six months ago.
14 Jan 2003
In its filing with the US Securities and Exchange Commission it said that future growth would be tempered by a slower level of capital investments and lower recurring revenue than initially expected.
The lowering of expectations in the UK market has be caused by the increase in competition from BskyB and the BT Group and a sharp fall in the number of subscribers since it entered bankruptcy protection.
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