MILAN, April 18 Italian yellow pages company
Seat Pagine Gialle may cease to operate as last year's
accounts showed "significant uncertainties", its auditors
PricewaterhouseCoopers (PwC) said.
Cash-strapped Seat, which has a market value of 26 million
euros ($36 million), is caught up in a long drawn-out court
restructuring, similar to Chapter 11 bankruptcy, that has
already caused losses for its lenders.
Seat released a document late on Thursday from PwC saying
that the company's 2013 accounts showed "certain factors that
contribute in a decisive manner to the continued existence of
significant uncertainties around the company's ability to
continue to operate for the foreseeable future".
It said, however, that approval given for a restructuring
plan by shareholders in March reduced the uncertainty around the
(Reporting by Isla Binnie; Editing by Louise Ireland)