Telewest Seeks Independent Panel to Oversee Restructuring

27 June 2002

Telewest, Britain’s second-largest cable operator, is assembling a committee to evaluate the various debt-for-equity swap schemes being proposed by bondholders.

Designed to ensure each strategy is handled impartially, the panel will be recruited from the US-owned firm’s independent board members.

Excluded from the committee will be directors from John Malone’s Liberty Media, which is trying to buy 20% of Telewest’s bonds to benefit from the equity exchange.

Data sourced from: The Times (London); additional content by WARC staff