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Funds? Do you come from a man down under?
By Tony Hallett
Published: 22 February 2002 08:20 GMT
NTL has raised much-needed cash through the sale of its terrestrial broadcasting infrastructure in Australia to an investment bank.
The deal is worth A$850 (£306m) and follows efforts by the internet, TV and telephony company to do a similar transaction in the UK.
However, the Nasdaq-listed company must still find other ways to reduce its $17bn debt mountain. AOL Time Warner and John Malone's Liberty Media have been mentioned as potential investors and existing shareholder France Telecom may yet stump up funds in a cash for equity arrangement.
NTL Australia, which broadcasts from 578 sites, was sold to Macquarie.
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