NTL, Freeserve team for broadband
Freeserve Broadband has inked a deal to deliver its 512 KBPS cable-modem service to NTL Inc.'s customers. Freeserve Broadband via the NTL cable will be available as part of a bundle with digital TV and telephony from NTL Home.
The ISP will use the partnership to introduce Freeserve customers to the value of the bundle, Freeserve said in a statement. Freeserve will announce residential pricing later this year.
Separately, NTL announced it has surpassed the 200,000th broadband customer marker. NTL claims its residential broadband penetration has reached 20 percent. The company says, on average, it is selling roughly 7,000 connections per week.
NTL filed for Chapter 11 bankruptcy protection last week. The reorganization plan is based on an agreement with bondholders to swap $10.6 billion in debt into equity in two reorganized companies - NTL UK and Ireland and NTL Euroco. Bondholders will receive 100 percent equity in NTL UK and Ireland and 86.5 percent equity in NTL Euroco.
The company says the filing will not affect its operating companies or customers in the United Kingdom, Ireland or Continental Europe.