Though struggling telecommunications company Williams Communications Group continues to negotiate with an ad hoc bondholder committee, one large bondholder expressed little optimism about a plan emerging anytime soon. A portfolio manager, who described his firm’s stake in the bonds as substantial, said, at this point, “there’s nothing on the table,” in terms of a plan. He said he was unsure when a proposal would emerge. As for the tenor of the discussions, he remarked, “To the extent that there have been discussions [between the parties involved], I guess that’s a positive.” He classified the talks as ongoing, rather than positive or negative.
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