Telewest shareholders greenlight restructuring

Telewest shareholders green-lighted part of the process in the cable company's financial restructuring plan at an Extraordinary General Meeting held today (Friday).

The company's shareholders passed a resolution that will transfer most of the company's assets into a Delaware company, Telewest Global, that will hold the restructured Telewest group.

"We thank our shareholders for today's vote," said Telewest chairman Cob Stenham. "It is a key step toward the completion of Telewest's financial restructuring."