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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
The Goldman Sachs Group, Inc.
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(Last) (First) (Middle)
85 Broad Street
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(Street)
New York, New York 10004
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
NTL Incorporated
(NTLI)
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3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)
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4. Statement for Month/Year
September/1999
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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7. Individual or Joint/Group Filing (Check Applicable Line)
[ ] Form filed by One Reporting Person
[ X ] Form filed by More than One Reporting Person
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<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, |
or Beneficially Owned |
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| | | | |6. | |
| | | 4. |5. |Owner- | |
| | | Securities Acquired (A) or |Amount of |ship | |
| | 3. | Disposed of (D) |Securities |Form: |7. |
|2. | Transaction| (Instr. 3, 4 and 5) |Beneficially |Direct |Nature of |
|Transaction | Code | -------------------------------|Owned at End |(D) or |Indirect |
1. |Date | (Instr. 8) | | (A) | |of Month |Indirect |Beneficial|
Title of Security |(Month/Day/ | -----------| Amount | or | Price |(Instr. 3 |(I) |Ownership |
(Instr. 3) |Year) | Code | V | | (D) | |and 4) |(Instr.4)|(Instr. 4)|
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
| | | | | | | | | |
Common Stock | 09/17/99 | S | | 700 | D | $101.00 | 01 | 01 | 01 |
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
FORM 4 (continued)
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Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned |
(e.g., puts, calls, warrants, options, convertible securities) |
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| | | | | | | |9. |10. | |
| | | | | | | |Number |Owner-| |
| | | | | | | |of |ship | |
|2. | | | | | | |Deriv- |of | |
|Conver- | | | 5. | |7. | |ative |Deriv-|11. |
|sion | | | Number of | |Title and Amount | |Secur- |ative |Nature|
|or | | | Derivative |6. |of Underlying |8. |ities |Secur-|of |
|Exer- | |4. | Securities |Date |Securities |Price |Bene- |ity: |In- |
|cise |3. |Trans-| Acquired (A) |Exercisable and |(Instr. 3 and 4) |of |ficially |Direct|direct|
|Price |Trans- |action| or Disposed |Expiration Date |-----------------------|Deriv- |Owned |(D) or|Bene- |
1. |of |action |Code | of (D) |(Month/Day/Year) | |Amount |ative |at End |In- |ficial|
Title of |Deriv- |Date |(Instr| (Instr. 3, |-----------------| |or |Secur- |of |direct|Owner-|
Derivative |ative |(Month/ |8) | 4 and 5) |Date |Expira- | |Number |ity |Month |(I) |ship |
Security |Secur- |Day/ |------| ------------ |Exer- |tion | |of |(Instr. |(Instr. |(Instr|(Instr|
(Instr. 3) |ity |Year) |Code|V| (A) | (D) |cisable |Date |Title |Shares |5) |4) |4) |4) |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
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</TABLE>
Instruction 4(b)(v) list of other Reporting Persons:
This statement is being filed by European Cable Capital Partners, L.P.
("European Partners"), European Cable Capital Partners Holding, Inc. ("European
Holding"), GS Capital Partners, L.P. ("GSCP"), GS Advisors, L.P. ("GS
Advisors"), Stone Street Fund 1996, L.P. ("Stone 1996"), Bridge Street Fund
1996, L.P. ("Bridge 1996"), Stone Street Empire Corp. ("Empire Corp."), Goldman,
Sachs & Co. ("Goldman Sachs") and The Goldman Sachs Group, Inc. ("GS Group" and,
together with European Partners, European Holding, GSCP, GS Advisors, Stone
1996, Bridge 1996, Empire Corp., and Goldman Sachs, the "Reporting Persons").
The principal business address of each of European Partners, European Holding,
GSCP, GS Advisors, Stone 1996, Bridge 1996, Empire Corp., Goldman Sachs and GS
Group is 85 Broad Street, New York, New York 10004.
Explanation of Responses:
01: The securities reported herein as sold were sold by Goldman Sachs, as part
of a basket which did not meet the requirements for exemption as outlined by the
Securities and Exchange Commission. These securities may be deemed to have been
beneficially owned directly by Goldman Sachs. Although it is expected to be part
of an approved basket, the subsequent purchase has not been effected yet.
Without admitting any legal obligation, Goldman Sachs will remit appropriate
profits, if any, to the Company. The Reporting Persons, other than GS Group and
Goldman Sachs, disclaim beneficial ownership of the securities reported herein.
Goldman Sachs and GS Group may be deemed to own beneficially and indirectly in
the aggregate 8,942,097 shares of Common Stock through European Partners, GSCP,
Stone 1996 and Bridge 1996 (collectively, the "Limited Partnerships").
Affiliates of Goldman Sachs and GS Group are the general partner, managing
general partner or managing partner of the Limited Partnerships. European
Holding is a wholly-owned subsidiary of GSCP. Goldman Sachs is the investment
manager of GSCP. Goldman Sachs is an indirect wholly-owned subsidiary of GS
Group. Goldman Sachs and GS Group each disclaim beneficial ownership of the
securities reported herein except to the extent of their pecuniary interest
therein.
European Partners may be deemed to own beneficially and directly and its general
partner European Holding, may be deemed to own beneficially and indirectly
8,413,198 shares of Common Stock. European Holding disclaims beneficial
ownership of the securities reported herein except to the extent of its
pecuniary interest therein.
GSCP may be deemed to own beneficially and directly 266,406 shares of Common
Stock, and may be deemed to own beneficially and indirectly 8,413,198 shares of
Common Stock through European Partners. GS Advisors, the general partner of
GSCP, may be deemed to own beneficially and indirectly 8,679,604 shares of
Common Stock. GS Advisors and GSCP disclaim beneficial ownership of the
securities reported herein as indirectly owned except to the extent of their
pecuniary interest therein.
Stone 1996 may be deemed to own beneficially and directly and its general
partner, Empire Corp., may be deemed to own beneficially and indirectly 156,416
shares of Common Stock. Empire Corp. disclaims beneficial ownership of the
securities reported herein except to the extent of its pecuniary interest
therein.
Bridge 1996 may be deemed to own beneficially and directly and its managing
general partner, Empire Corp., may be deemed to own beneficially and indirectly
106,077 shares of Common Stock. Empire Corp. disclaims beneficial ownership of
the securities reported herein except to the extent of its pecuniary interest
therein.
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**Signatures:
EUROPEAN CABLE CAPITAL PARTNERS, L.P.
By: s/ Hans L. Reich
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Name: Hans L. Reich
Title: Attorney-in-fact
EUROPEAN CABLE CAPITAL PARTNERS HOLDING, INC.
By: s/ Hans L. Reich
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Name: Hans L. Reich
Title: Attorney-in-fact
GS CAPITAL PARTNERS, L.P.
By: s/ Hans L. Reich
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Name: Hans L. Reich
Title: Attorney-in-fact
GS ADVISORS, L.P.
By: s/ Hans L. Reich
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Name: Hans L. Reich
Title: Attorney-in-fact
STONE STREET FUND 1996, L.P.
By: s/ Hans L. Reich
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Name: Hans L. Reich
Title: Attorney-in-fact
BRIDGE STREET FUND 1996, L.P.
By: s/ Hans L. Reich
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Name: Hans L. Reich
Title: Attorney-in-fact
STONE STREET EMPIRE CORP.
By: s/ Hans L. Reich
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Name: Hans L. Reich
Title: Attorney-in-fact
THE GOLDMAN SACHS GROUP, INC.
By: s/ Hans L. Reich
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Name: Hans L. Reich
Title: Attorney-in-fact
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GOLDMAN, SACHS & CO.
By: s/ Hans L. Reich
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Name: Hans L. Reich
Title: Attorney-in-fact
Date: October 12, 1999
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedures.
Alternatively, this Form is permitted to be submitted to the
Commission in electronic format at the option of the reporting person
pursuant to Rule 101(b)(4) of Regulation S-T.