AT&T Latin America to transfer to Nasdaq Small Cap. (Across the Region).

Latin America Telecom, October, 2002

AT&T Latin America Corp. said it filed to transfer its stock to the Nasdaq Small Cap Market in order to avoid a delisting.

The transfer gives the Nasdaq-listed telecommunications service provider, which has traded below the $1 threshold since May, a grace period lasting until January 7, 2003, spokesman Jim McGann said.

The Latin American business of AT&T Corp., which operates in five countries, has been hit by currency devaluation issues on top of the widespread slump in telecommunications.

The company also has about $842.9 million in debts, most of which it owes to its parent AT&T. McGann said the transfer should not have any impact on its debt situation.

AT&T Latin America's chief executive Patricio Northland recently indicated to...

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