Debt to history

Is history about to repeat itself? NTL and Telewest may only just have repaired their balance sheets after going bust in the telecoms downturn, but private equity firms are apparently already queuing up to load them with debt again and take them private. This looks superficially smart, but might be very foolish. It is easy to see why buyout firms might be sniffing around. The cable business looks healthier now that more customers are embracing broadband. The two companies have just sealed a mer...