NewsWhore
10-23-2009, 03:00 PM
Dominican Telecommunications Institute (Indotel) president Jose Rafael Vargas has welcomed what he described as "a great step forward" for Tricom. The Dominican telecommunications group received approval for its Financial Restructuring Plan from the Chapter 11 court in New York City yesterday.
Vargas said that, "with the ratification of the plan, Tricom sets a very positive precedent that will be reflected by strengthening the nation's telecommunications". After the approval of the restructuring plan in the US, Tricom now needs to carry out several corporate steps in the Dominican Republic that will allow it to finally implement the restructuring, including approval from Indotel for the transfer of the control of the company to the new shareholders.
Vargas urged the new shareholders to make the investments needed in order for the company as soon as possible, to achieve an increase in its competitive levels and so that users of its telecommunications services may benefit from new technologies and better prices.
More... (http://www.dr1.com/index.html#10)
Vargas said that, "with the ratification of the plan, Tricom sets a very positive precedent that will be reflected by strengthening the nation's telecommunications". After the approval of the restructuring plan in the US, Tricom now needs to carry out several corporate steps in the Dominican Republic that will allow it to finally implement the restructuring, including approval from Indotel for the transfer of the control of the company to the new shareholders.
Vargas urged the new shareholders to make the investments needed in order for the company as soon as possible, to achieve an increase in its competitive levels and so that users of its telecommunications services may benefit from new technologies and better prices.
More... (http://www.dr1.com/index.html#10)