Metromedia Fiber Network, which builds high-speed fiber-optic communications networks in cities, on Monday scrapped its financial guidance through the end of 2002 and warned it may have to file for bankruptcy if it cannot restructure its debts. "The amazing thing is there's just no cash in the company. They basically went from 'Everything's seems to be OK,' to 'We're dead,' and that was during a recovery in the market," Kaufman Bros. analyst Vik Grover said. "For common shareholders, I think it's over. This is a death blow." |
