bankruptcy
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Casa Systems has begun a court-supervised Chapter 11 process with the aim achieve the optimal sales of its businesses. -
Satellite operator Intelsat has emerged from bankruptcy with its debt cut from US$16 billion to $7 billion, and with $6.7 billion in new finance.
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Indian banks are in discussions about converting Vodafone Idea’s debts into equity, effectively taking over one of the country’s three main mobile operators.
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Intelsat reported total revenue of US$507.9 million in Q2, an increase of $25.8 million, while net loss attributable to Intelsat S.A. stood at $152.3 million.
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The chairman of the company that owns 27% of Indian mobile operator Vodafone Idea has offered to transfer the group’s entire shareholding to the government to help stave off collapse.
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Frontier Communications has expanded the role of Mike Shippey and has appointed him to the company’s executive committee.
Forthcoming events
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Scott Beasley is to join Frontier Communications as CFO following the resignation of Sheldon Bruha.
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Frontier Communications has passed the last hurdle in emerging from last year’s bankruptcy, after the support of Californian authorities.
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Global Cloud Xchange CEO Carl Grivner has said the company is looking forward to a "new era of growth" having concluded its financial restructuring.
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Hughes Network Systems LLC has won a contract to develop and manufacture ground system technology for OneWeb's new LEO constellation.
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Subsea cable operator Seaborn Networks has appointed Steve Orlando of Zayo as its CEO, three months after the group emerged from bankruptcy protection.
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The UK government pushed through approval of its US$500 million investment in bankrupt satellite company OneWeb despite objections from officials and the politician who chairs the parliamentary business strategy committee.
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Ministers in the UK government agreed to invest $US500 million in OneWeb last night, according to numerous reports – mainly by political journalists in London.
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Troubled Caribbean and Pacific operator Digicel will emerge from its debt reduction process this week after winning huge support from its lenders.
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Intelsat, the 55-year-old satellite company, filed for bankruptcy protection last night, in a move apparently designed to allow it to benefit from a refarming of spectrum in the US.
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Frontier Communications (FC) has confirmed its intention to file for bankruptcy under the US’ Chapter 11.
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Global Cloud Xchange (GCX) has announced that it will become a standalone company after its Chapter 11 proceedings and after completing the initial phase of its previously announced sale process.
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Bill Barney has stepped down from his job as CEO of troubled Indian operator Reliance Communications (RCom), so that he has focus on his other task, as head of RCom subsidiary Global Cloud Xchange (GCX).
