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Altec Telecoms: Next Stop, Bankruptcy


Altec Telecoms says in an announcement that it will file for bankruptcy today, owing to financial difficulties. The company plans to submit a restructuring plan to the bankruptcy court, in order to be rescued and restructured.

The company says that the recent development will have an impact on Altec group however these will not cause serious problems to its operations.

Earlier today, reported:
Altec Telecoms is close to filing for bankruptcy, as its problems have been aggravated in the last months, following OTEs action to vindicate a sum it claims the company owes.

Two days ago, Altec Telecoms decided to withdraw its request for protection under the article 99 of the bankruptcy code, some hours before the case would be discussed.

Sources in the telecommunications sector say that the only way out is filing for bankruptcy. A relevant decision had not been taken by yesterday night, however there are many indications that Altec Telecoms will opt for this solution.

As far as the Syzefxis project for the development and updating of the public sectors infrastructure is concerned , sources say that talks are held with Hellas on Line, which is interested in taking up the project.

During the last days, Altec Telecoms have felt the companys problems, as it fails to attend to their telecommunications needs.


Stamatis Zacharos


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