Things get worse for Atlantic Telecom

Atlantic Telecom on the last few pages as Germans approach Chapter 11...

By Will Sturgeon, 10 October 2001 08:22

NEWS UK telecommunications company Atlantic Telecom has seen its unhealthy situation go from bad to worse with news that its interests in mainland Europe are following a similar downturn trend to their UK parent. Atlantic last week called in the administrators and today comes news that its German subsidiary is seeking bankruptcy protection. The German business relies upon its parent for funding and so was left with little choice but to start planning for its insolvency when Atlantic called in the administrators. According to the Financial Times Graham Duncan, executive chairman of Atlantic, is considering buying the company from the administrators and is currently in talks with an unnamed investor.

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