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Enron on the brink.

THE giant Enron Corporation is continuing to teeter on the brink of bankruptcy after one of the most spectacular business downfalls of all time.

Once the world's largest energy supplier, Wall Street analysts say bankruptcy is now almost a certainty for the US company, following a stock market collapse triggered by shock revelations of overstated profits and off-thebooks business deals.

With a market value of pounds 66bn last year, the one-time seventh largest company in America, which also employs 3,700 people in the UK, was yesterday worth just pounds 360m.

Enron had hoped to be rescued by its main US competitor, but Dynegy backed out of a possible takeover deal on Wednesday, saying that "sometimes a company's best deals are the very ones it did not do".
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Title Annotation:Business
Publication:Western Mail (Cardiff, Wales)
Geographic Code:1USA
Date:Nov 30, 2001
Words:128
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