Feb, 2002 : XO Expects to File for Bankruptcy: Business Week

📅 February 22, 2002 - Voice and data services company XO Communications Inc. (xo.com -> akamai.com) is expecting to file for Chapter 11 bankruptcy protection within the next two weeks, Business Week magazine reported Thursday.

XO said on Nov. 29 that buyout firm Forstmann Little and Mexican telecomTelefonos de Mexico S.A. de C.V. each planned to invest $400 million in thecompany. But XO said the restructuring, if it happens, would basically leavecurrent stockholders with nothing.
Business Week reported that XO is filing for bankruptcy protection toconvince debtholders to agree on the restructuring plan.
"It could happen in days; it could be two weeks," a source near XO told themagazine.

Reads: 1389 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/xo022202.cfm

Company: XO Communications [xo.com -> akamai.com]

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