Many social welfare groups, meanwhile, welcomed the proposed restructuring, although a number of them had reservations about certain provisions.

The company said last week it was holding discussions with the exchange about a proposed restructuring of its authorized capital.

The proposed restructuring gives bondholders 55 to 65 percent of the company's equity.

Debate has centred on the proposed restructuring of the cabinet secretary's job.

Management is intensively negotiating with local governments over a proposed restructuring of the company.

So fluid are the negotiations that just two months ago, the proposed restructuring was different, according to a person familiar with the process.

The statement noted that the total debt subject to the proposed restructuring was circa $26 billion.

Under the proposed restructuring, consumers would get their electricity over the same wires carrying it now.

The center would have been abolished under the proposed restructuring.

Wall Street and its analysts weren't particularly impressed by Schrempp's proposed restructuring.