Originally Posted by
EIFFS
Very much as predicted a couple of weeks back, cut the limbs off and save core (K area) live (maybe) to fight another day.
Sad news, but that amount of debt is no match for Covid-19
Again, they're getting rid of staff employment subsidiaries which were already laid off anyway. That doesn't change the debt pile as they had no assets. Those companies are like agencies in their respective countries. No bondholder or government (including Norway) will jump into an €8,000 million debt pile to keep an small operation in Norway.
Also, I don't think it's coincidental that they have made headlines with Sweden and Denmark, as both countries denied help to norwegian.