Chile Telecom Operator WOM Files for Bankruptcy in the US [Yahoo! Finance]
Telefonica SA (TEF)
Last telefonica sa earnings: 2/23 04:01 pm
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Source: Yahoo! Finance
Most Read from Bloomberg Erdogan Suffers Historic Loss in Turkey Municipal Elections US Oil Suppliers Muscling Into OPEC+ Markets All Over the World Bridgewater CEO's Turnaround Hinges on Wooing Restless Clients China Factory Activity Expands for First Time in Six Months China Industrial Upswing Is Latest Sign of Economic Recovery The company filed for Chapter 11 bankruptcy protection in Delaware, according to documents dated Monday. The filing, which lists between $1 billion and $10 billion in liabilities and same in assets, allows WOM to keep operating while it works on a plan to repay creditors. The mobile network operator bet on cheap plans and a bold marketing campaign to defy Chile's incumbents, weathering intense competition across Latin America along the way. But it drained cash fast while expanding its user base. Its 2024 bonds had slid to below 30 cents on the dollar amid liquidity concerns and as the company and its bondholders hired advisers ahead of possi
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