Telewest says debt restructuring expected to leave shareholders with 1.5% of company

By Carlise Newman

Chicago, July 28 - Telewest Communications plc said Monday that its talks with bondholders on the terms of a proposed financial restructuring are expected to leave ordinary shareholders with 1.5% of the issued share capital following the restructuring.

Telewest previously said on Sept. 30, 2002 that it had reached a preliminary agreement on a restructuring with an ad hoc committee of its bondholders.

In June 9 the U.K. broadband communications company said the bondholder committee requested changes to the agreement in order to obtain the support of some bondholders.

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