 Telewest experienced many financial problems in subsequent years, owing to huge debts incurred as a result of constructing its cable network and of acquiring other cable companies and assets.Notably, the Eurobell acquisition had been funded by an equity based deal, with a cash option; the poor performance of the company's stock meant that the cash option was favourable, and the company was not able to cover the call.In September 2003, Telewest restructured itself, by swapping its unsecured debt for 98.5% of its shares.