High Court sanctions Telewest restructuring
# Jun 21, 05:23 PM by Mick
Telewest has announced today that the High court of England and Wales has granted orders sanctioning the schemes of arrangement of Telewest and Telewest Finance (Jersey) Limited.
A press release from Telewest, explains that successful completion of the financial restructuring remains subject to a number of conditions. Telewest is expecting the schemes of arrangement will become effective on 15 July 2004 and that the financial restructuring will be completed on 19 July 2004 when shares in Telewest Global, are expected to commence trading on the Nasdaq National Market.