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Technology Stocks : 360Networks - TSX - TSIX

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To: Sal Pugliese who started this subject	6/29/2001 9:32:05 AM
From: bcjt	Read Replies (1) of 449

Van Sun/Reuters say 360networks files for protection 360networks Inc TSX Shares issued 724,300,134 Jun 28 2001 close $.310 Jun 29 2001 6:09:59 The Vancouver Sun reports in a Reuters dispatch in its Friday edition that struggling 360networks has filed for protection from creditors. Allan Dowd of Reuters writes that the decision to file for protection in Canada and the United States would allow it to reorganize its finances and complete its network in North America. One day after slashing its work force to 1,000 from 1,800, the company said Thursday that it still has $155-million in cash and short-term financial assets (all figures U.S.). 360networks, which owes $2.8-billion to bondholders, has filed under the Companies' Credito bcjt

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