NEW YORK, March 11 -- The New York Stock Exchange (NYSE) has suspended trading in Williams Communications Group Inc. stock and said it will seek to delist the company because of its low trading price.
On March 1, the NYSE said it was reviewing whether Williams Communications should continue to be listed on the Big Board, since the stock dropped below the NYSE's minimum share-price requirement. Shares of Williams Communications last changed hands at 13 cents.
Last month, Williams Communications said it might file for Chapter 11 bankruptcy protection to reorganize its $5.16 billion debt. Before that, the Tulsa , Okla., company had said it wasn't considering a bankruptcy-law filing or moves that would result in substantial shareholder dilution.