Canwest: still in talks

Rose Major

Another fortnight, another extension. Canadian media company CanWest said it has extended yet again talks between CanWest Media and members of an ad hoc committee of 8% noteholders regarding a recapitalization transaction.

Certain milestones that were to have been achieved by August 28 have been extended to September 11 to give the two sides time to come to an agreement. But talks have been going on since April, so investors must be starting to question whether an agreement is ever likely.