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European retreat continues
By Tony Hallett
Published: 5 April 2002 08:40 GMT
Energis has admitted it may have to put its Swiss business into insolvency after failing to find a buyer.
The beleaguered business telco is withdrawing from Europe in an attempt to stop haemorrhaging cash. The Swiss operation is estimated to be losing about £1m a month.
The company defaulted on bond payments on 12 March and is in talks with private equity firms interested in its core UK business.
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