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Article: Debt News Hurts Williams Communications Stock.

Article from:
Knight Ridder/Tribune Business News
Article date:
January 30, 2002
Copyright

By D.R. Stewart, Tulsa World, Okla. Knight Ridder/Tribune Business News

Jan. 30--Wall Street's concerns about the potential $2.15 billion debt liability of Williams Cos. Inc. rippled over to include its telecommunications spin-off, Williams Communications Group Inc., on Tuesday.

Although Williams Communications executives and industry analysts said the decision by Williams Cos. to delay reporting fourth-quarter earnings would have no effect on its telecom business, investors fled the stock in droves.

Williams Communications stock closed at $1.34, down 29 cents a share, and its lowest closing price in 10 weeks. More than 19.3 million shares ...

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