WorldCom to face bankruptcy on Monday?

So it seems

Scandal-hit WorldCom could file for bankruptcy protection by Monday, according to a report by Reuters.

Citing sources familiar with the situation the report claimed that the giant telco - which carries half the world's Net traffic - has secured $2 billion in funding that should enable it to stay afloat once it files for Chapter 11.

If the bankruptcy goes ahead then it would be the biggest ever example of a company going titsup.

WorldCom hit the headlines last month when the carrier admitted that it had fiddled its books the tune of $3.8bn.

And it has around $30bn in debt. ®

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WorldCom may file for bankruptcy Monday-sources - Reuters

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