Enitel, the Norwegian telecom group, has filed for protection from its creditors, including JP Morgan, and said that it has only enough cash to keep the company alive for another two months.
Knut Øversjøen, Enitel's chief financial officer, explained in an interview that at this stage, the company has technically not filed for bankruptcy, but added: "If we do not succeed with these negotiations the next step will be voluntary bankruptcy."
