WorldCom to face bankruptcy on Monday?
So it seems
Posted in Media, 19th July 2002 11:05 GMT
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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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