Williams Communications Group, the U.S. phone and data network operator facing more than $5 billion in debt and a 96 percent drop in its market value over the past year, may file for bankruptcy.

The Oklahoma-based company joins rivals like Global Crossing, which has filed for bankruptcy after being unable to pay debt incurred while building telecom networks.

Some information for this report provided by Bloomberg.

Email this article to a friend
Printer Friendly Version