Jun 4, 2001 : NYSE Suspends Trading of Shares In GTS

📅 June 4, 2001 - European broadband carrier Global TeleSystems, Inc. (GTS) announced late yesterday they had received notice from the New York Stock Exchange (NYSE) informing them that trading in GTS shares had been suspended.
The NYSE halted trading in the shares, which trade under the ticker symbol GTS, due to an "abnormally low selling price" for common stock, according to a release from the company.
The company was also informed that the NYSE intended to seek to de-list shares in the company through the Securities and Exchange Commission.
GTS said yesterday that they would immediately appeal the decision and apply to have its shares traded on the OTC bulletin board. "GTS does not believe that the NYSE's decision is well founded in the Exchange's rules," a release from the company said.
The company also said the day-to-day operations of its core business unit, Web hosting and IP service company Ebone, will not be affected by the de-listing.
GTS said on Thursday that it was discussing a 2.2 billon Euro ($1.9 millon) plan to restructure the company's debt, and that one of its units would not make a $22.8 million interest payment due last week.

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