WCOM Message Board - Msg: 17686590

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Technology Stocks : WCOM

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To: tejek who wrote (11102)	7/2/2002 4:29:58 PM
From: shortilong	of 11568

WASHINGTON , D.C . -(Dow Jones)- WorldCom Inc. (NasdaqNM: WCOM - News) (WCOME, MCITE) Chief Executive John Sidgmore said Tuesday the company has more than $2 billion in cash and that a bankruptcy filing is not imminent. In his first live, public comments since the company announced it would have to restate 2001 and first-quarter 2002 results due to a $3.8 billion misallocation of routine expenses as capital expenditures, Sidgmore said the company is currently working with various banks to restructure the company's finances. "We think we'll get a proposal in this week," he said, before adding later, " all the banks are in negotiations to see if we can't refinance all of these loans."

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