UK's NTL to move its shares to NYSE

Brit communication co. looks to increase it's U.S. visibility

By JUSTIN OPPELAAR

NTL Inc., the U.K.'s largest cable TV and broadband communications carrier, is moving its U.S.-listed shares from the Nasdaq National Market up to the New York Stock Exchange, the company said Thursday.

Shares of NTL, which dramatically expanded its business last May with the purchase of Cable & Wireless' residential cable operations, will now trade under the NYSE symbol "NLI."

NTL chief exec Barclay Knapp said the move, set for later this month, will help the company increase its visibility in the U.S. capital markets, providing it with access to new avenues of investment.

Sliding over to the NYSE also will improve the liquidity of trading in the company's shares, which makes the stock easier to trade and more valuable as currency for transactions, Knapp added.

Meanwhile, NTL's Nasdaq-listed shares closed Thursday's trading session at $43, up $1.88. The stock has tumbled recently along with the shares in many technology firms, falling 70 points from its 52-week high of $109.69 in mid-March.