GTT - GTT Communications slips on report on formal talks on bankruptcy plan

GTT Communications  (GTT) fell 3.8% after a report that the telecom company has started formal talks about a restructuring in a potential bankruptcy filing.GTT proposing to creditors a plan that would give term loan holders a cash payment from the $2.15b sale of its infrastructure unit, according to a Bloomberg report.Recall March 1, GTT slips another 4.8% as restructuring deadlines loom.Recall Feb. 18, GTT Communications drops on report considering bankruptcy filing.

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GTT Communications slips on report on formal talks on bankruptcy plan