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Altecs Stock Under Surveillance

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Athens Stock Exchange placed Altecs under surveillance, as of today, October 20 2008.

 

According to a relevant announcement, “The Board of Directors of Athens Exchange, at their meeting today, according to the ATHEX Rulebook, (article 3.1.2.5 par. e), decided the shift of trading of the shares of the Company ALTEC S.A. to the Under Supervision Category, as of today, Monday, October 20th 2008, taking into consideration the announcement of the company as of 17.10.2008.

 

The announcement by ASE confirms an earlier report by Capital.gr according to which Altecs stock would be placed under surveillance owing to the bankruptcy of its subsidiary, Altec Telecoms.

 

On Friday, Altec announced that Altec Telecoms would file for bankruptcy owing to financial problems and that the company would subsequently announce a restructuring plan.

 

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