Atlantis, Atlantic, they've both gone the same way...
By Ben King, 5 October 2001 17:05
NEWS Atlantic Telecom has gone into administration, sending shockwaves through an already depressed industry. The move was taken after talks to restructure Atlantic's debt were suspended at 02:00 (BST) this morning. Shares in Altantic Telecom, once worth 1190p, were suspended earlier today at 5p, valuing the company at a mere £11m. One of Atlantic's biggest shareholders was Marconi, which has already written off £2bn of its investment in the company.
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