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Nortel bankruptcy! ! !

by:AAA     2020-04-23
( Industry news] Nortel bankruptcy! ! ! Zhaogy P once global telecom giant Canada nortel networks, 北电网络) 14, filed for bankruptcy protection, has become a global financial crisis, the first a major technology companies filed for bankruptcy protection. Nortel networks is understood to have in Ontario, Canada, at the same time, Delaware, and all over Europe for similar bankruptcy protection. Nortel networks, the decision is in the company is going to pay as much as one point zero $seven hundred million bond interest on the day before. The headquarters in Canada's North America's largest telecommunications equipment manufacturer. In the board of directors held in Toronto, 13 night unanimously decided to file for bankruptcy protection. The company said in a statement, a process that will allow it to deal with their own costs and debt burden, the reorganization of the business operations and to tighten its strategic focus. Although nortel said about $two billion three hundred million in cash, but the company still owes about $four billion five hundred million of long-term debt in the United States. Main lending Banks including jpmorgan chase, citigroup and royal bank of Canada. 'Nortel must establish a good financial foundation to thoroughly solve the problem. 'Nortel CEO Mr Rove says,' these actions are necessary, enable nortel to strengthen its core superiority, in the communications industry to be a leader in highly concentrated and financial soundness. 'Analysts expect nortel in the filed for bankruptcy protection after will lose more business. Nortel legend in the field of telecom history can be traced back to the early telephones. The company was founded in 1895, as the north electrical appliance manufacturing company to sales calls for other Canadian company equipment, and built the first telecom network. Throughout the 20th century, the company's telecommunications equipment business grows steadily, and set up the first mobile phone network in the sixties. Nortel networks of wealth at the beginning of the Internet development by leaps and bounds, the peak value of its shares accounted for about a third of the Toronto stock exchange. After the tech bubble burst, nortel networks shares all the way down to a few c. Nortel networks in recent years tried to recover, but has not been able to succeed. (
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