ntl share prices plummet
THE company that supplies cable television and phone services to homes in Suffolk is now worth less than one per cent of its value two years ago.The price of shares in ntl has plummeted since it reached an all-time high in March 2000.
By Paul Geater
THE company that supplies cable television and phone services to homes in Suffolk is now worth less than one per cent of its value two years ago.
The price of shares in ntl has plummeted since it reached an all-time high in March 2000.
Then a single share in the company was priced at $107.06 on the New York Stock Exchange.
Now each ntl share is valued at just 84 cents. On January 4 2000, each share was valued at $89.05.
The company's share collapse has come as a result of its massive debt, built up while installing its new cable systems across the country and by borrowing money to buy other companies.
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Among these was Comcast in 1998. Comcast was the parent company of East Coast Cable, which provided services in Ipswich and part of Felixstowe.
Although ntl is a British-run company, it is American-owned and its shares are listed on the New York Stock Exchange.
It also operates television transmitters in Britain, and transmission services for broadcasters.
Some financial experts fear that the company could become the world's biggest bankruptcy during 2002 – others think it could be taken over by its banks and forced into a merger with cable television rival Telewest.
Its transmitters have been up for sale with a price tag of about £1 billion for some time – but so far there have been no takers for them.