NTL Posts Bigger Losses

02 March 2006

   LONDON - The UK cable operator has reported a deeper net loss for the last three months of 2005, ahead of the completion of its merger with nominal rival Telewest and takeover of telco Virgin Mobile [WAMN: 21-Feb-06].
   US-owned NTL says Q4 losses rose to £56 million ($98m; €82m)), up from £52m a year earlier. Revenues fell 5.4% to £484.6m following a drop in the amount of telephone usage by its customers. The churn rate was flat at 1.5%.