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Cablecom Successfully Completed its Financial Restructuring

Zurich (ots)

Cablecom successfully completed its financial
restructuring on 13th November 2003. The financial restructuring
provides the company with a stable, long term capital structure and
strengthens Cablecom's position as a leading video, broadband
Internet and telecommunications provider in Switzerland.
Cablecom GmbH has successfully completed the financial
restructuring process announced on 19 June 2003. All lenders and
other holders of economic interest in Cablecom's bank debt have
reached final agreement and all definitive documentation has been
executed by all parties on 13th November 2003.
With its stable, long-term capital structure, Cablecom will
continue to be a solid business communications partner and has
strengthened its ability to offer genuine competition and innovative
products and services in the Swiss market. Rudolf Fischer, Chief
Operating Officer, said: "The successful financial restructuring
enables us to be cash-flow positive and continue to invest in our
national infrastructure." The financial restructuring was predicated
on new shareholders' support for the management team and their
business plan.
Ownership structure
Cablecom's ownership structure is comprised of an investment
consortium holding a controlling interest in the company. The
investment consortium is a balanced participation from strategic
buyout funds Apollo Management, Goldman Sachs Capital Partners and
Soros Private Equity Partners. Each of the investment consortium
members has a proven track record and demonstrated long-term
commitment to the communications industry.
The company's remaining share capital will be controlled by the
company's bank group. NTL Europe has sold its interest in the
company.

Contact:

cablecom Media Relations
Stephan Howeg
Head of Corporate Communications & Public Affairs
Phone +41/1/277'99'99
Fax +41/1/277'95'88
E-mail: media.relations@cablecom.ch