The news comes on the heels of NTL's announcement to the New York Stock Exchange this morning that it expects to meet all its interest payments, despite fears that it is running out of money.
NTL CEO Barclay Knapp said the company expects to meet "all its obligations". His assurances sought to quash mounting concerns among investors and creditors, following weekend reports that the company would miss a £64.5m interest payment to banks today.
NTL's share price began to climb again today, up 15.38% to $0.45, after the statement was released.
Knapp also dismissed suggestions that he should resign.
He said: "I don't believe that is the best course of action and nor does the board in this case. I deeply regret what's occurred both in terms of our employees and our stakeholders."
He confirmed recent reports that the company has appointed Credit Suisse First Boston, JP Morgan and Morgan Stanley to advise on how best to reduce its debt.
Analysts calculate that NTL needs to find £3.8m a day to service interest payments on its debt. NTL's interest payments for next year alone are expected to reach £840m.
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