Telewest shareholders to approve companies financial restructure
# May 21, 05:58 PM by Mick
Shareholders have approved plans for a debt-for-equity swap, which will leave shareholders with just 1.5% of the company which recently installed its 500,000th Broadband customer.
Telewest still needs to secure final approvement from bondholders and the courts before a new company can be created under the move called ‘Telewest Global’.
New share dealings for the new formed company are expected to commence around mid-July.