Financial Daily from THE HINDU group of publications
Wednesday, Aug 07, 2002
Financial Daily from THE HINDU group of publications Wednesday, Aug 07, 2002 |
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Telecommunications Info-Tech - Telecommunications VSNL unsure of WorldCom dues Our Bureau
MUMBAI, Aug. 6 VSNL today said there could be no assurance that it will be able to collect its WorldCom receivables or that it will not be adversely affected by WorldCom's financial difficulties. VSNL said there were "risks inherent in any bankruptcy proceeding,'' while maintaining that it "remains optimistic that it its relationship with WorldCom will continue to the benefit of each company'' and that it would collect the monies due to it from WorldCom. For the first time after the news of the WorldCom debacle, VSNL formally issued an estimate of its exposure to the former — at between Rs 294 crore and Rs 441 crore till end-July, 2002, according to a news release from VSNL. This does not include the amount of Rs 333.6 crore that VSNL has already received from WorldCom in recent weeks.
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