Enitel, the Norwegian telecom group, is in talks to restructure debts of €450m ($407m) in an attempt to secure its future after posting losses of Nkr2.2bn (€273m) in the first half of the year.
Enitel said in its results statement that it is "working on a plan to refinance its operations". The company borrowed Nkr2bn from the loan market early last year and a further €200m from the high yield bond market. Company executives were not available to elaborate on the refinancing plans.
