A source close to the negotiations between Net Serviços and its creditors expects a conclusion soon because the banks need to close their balance sheets for 2003. Obviously the good news of a refinancing deal would be preferable to a write-off, he says. But one way or another the banks would rather avoid having to set aside significant provisions for the MSO?s debts in 2004.
Other sources consulted by PAY-TV News also see the talks extending to year-end rather than reaching a conclusion sooner, say in October, as expected initially. This isn?t because of any special stumbling-blocks, they say. The creditors have delivered their counter-proposal with due diligence findings. Net Serviços declines to comment.