Great Plains’ telco units file for bankruptcy
DTI Holdings and Digital Teleport, two telecom subsidiaries of energy holding company Great Plains Energy, will file for reorganization under Chapter 11 bankruptcy protection to remove $300 million in debt and narrow the subsidiaries’ operations.
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Digital Teleport and its holding company, DTI Holdings, are 83% owned by KLT Telecom, which is a unit of KLT, a Great Plains subsidiary that invests in non-regulated energy ventures.
In October 2001, Great Plains Energy disclosed that, due to the state of the telecom market, it would explore strategic alternatives for the units, including bankruptcy.
Digital Teleport, a facilities-based telecom company based in St. Louis, Mo., will be able to conduct business operations while restructuring. The filings are being made in St. Louis at the United States Bankruptcy Court for the Eastern District of Missouri.
--Amalia D. Parthenios, staff writer
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© 2012 Penton Media Inc.
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