Not necessarily. The WIN employee who filed a request for an EC, estimated that WIN employees own at least 4.5 % of O/S in 401Ks. That is 1.935 M shares. Plus Management would like to keep its employees happy.
Here is what a recent News Article says:
“ There’s been a steady stream of developments since the filing, with analysts weighing in on what’s likely taking place behind the scenes. And partners, and employees in anonymous comments, have provided their feedback on how this has or is likely to impact them.
Mike Sapien, Ovum’s vice president and chief analyst of enterprise services, tells Channel Partners the process seems to be going as expected and “I have not heard anything to the contrary.”
“[The] chapter 11 process can take many months to years,” he said. “There won’t be any public announcements until Windstream has negotiated with its major creditors and regulators on their exit plan. I suspect it will be many months due to the numerous parties involved including the regulatory agencies involved.”
During its first-quarter 2019 earnings call, Tony Thomas, Windstream’s president and CEO, said the reorganization process continues and “we are pleased with the progress thus far. Windstream will emerge from our current restructuring a healthier and stronger company. More than ever, we are excited about the opportunities that lie ahead.”
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