Multinational telecommunications service provider Infonet Services will likely be put up for sale by shareholders. The service provider hired UBS Warburg LLC and Merrill Lynch & Co. Inc. to try to find a buyer or an alternative deal that will reduce the company's debt. Infonet has several large international telecommunications shareholders, including Koniklijke KPN in the Netherlands, Telefonica in Spain, Telia in Sweden, KDD in Japan and Telstra in Australia.
Meanwhile, domestic competitive local exchange carrier E*spire in Herndon, Virginia, has financial difficulties of its own. The CLEC filed for Chapter 11 bankruptcy protection last week. The company says it will continue to support its customers during the reorganization period.