...powertel...

PowerTel has to date failed to secure $A40m in bank finance to ensure its financial future. The company's auditor, Ernst & Young, has questioned the listed Australian telecommunications company's business model. Analysts predict that without an extra injection of funds, Powertel, which had a remaining $A24.5m of its initial $A100m drawdown facility undrawn on 1 September 2002, will run out of funds in the first quarter of 2003. It is reported PowerTel's parent, Williams, which has just emerged from bankruptcy protection in the US, want to sell its 35 per cent interest in PowerTel. ...............not looking too good at present !....................gosh...........