Telecom Companies. Brace For Trouble From Argentina - NYT
03:34 a.m. 01/15/2002 Provided by
NEW YORK -(Dow Jones)- Argentina's currency devaluation and debt default could create problems for some of the biggest United States and European telecommunications companies, The New York Times reported in its Tuesday editions. Already, the international arm of the United States wireless carrier Nextel Communications (NXTL) has missed a debt payment to banks, mainly as a result of the Argentine crisis. And other telecommunications companies with a big presence in Argentina   including AT&T (T), BellSouth (BLS), Verizon Communications (VZ) and Telefónica of Spain (TEF)   all could feel the pinch of a decline in hard-currency revenue and could find themselves in uncertainty over planning as they await regulatory changes. The Times reported that some venture capital investors are also exposed, including Morgan Stanley Dean Witter (MWD) and Hicks, Muse, Tate & Furst (H.HIX) of Dallas, which financed the expansion of telecommunications and cable television companies within Argentina and into neighboring countries. |
