Willcom in Re-Structure Talks

Willcom is in talks to reorganize with the support of Japan’s state-backed turnaround agency according to Nikkei English News - http://bit.ly/7FlGHK

Via Bloomberg:

Willcom Inc., a Japanese mobile- phone provider, is in talks to reorganize with the support of Japan’s state-backed turnaround agency, Nikkei English News said, without citing anyone.

The Enterprise Turnaround Initiative Corp. of Japan is likely to emerge as the biggest shareholder under the plan, the report said. Softbank Corp. and Advantage Partners may also take stakes, the report said. Willcom and the turnaround agency may ask creditors for ten of billions of yen in debt relief, the report said.