NTL, the US cable network that is listed in New York but operates primarily in Great Britain, uncrossed its fingers on Thursday when a Manhattan bankruptcy court agreed to a $10.6 billion (€10.69bn; £6.76bn) refinancing.

The decision, which surprised no-one, is the first step in the group’s emergence from Chapter 11 bankruptcy, scheduled for October when it will bifurcate into two separate companies.

NTL, which has amassed over $20 billion in debts, is currently in the throes of a debt-for-equity swap.

Data sourced from: Times Online (UK); additional content by WARC staff