A deal has been cut for the takeover of nearly-bust Suntech Power (STP) by the city of Wuxi,...

|About: Suntech Power Holdings C... (STP)|By:, SA News Editor

A deal has been cut for the takeover of nearly-bust Suntech Power (STP) by the city of Wuxi, according to an official at the town's holding company, Wuxi Guolian. The company earlier reached a deal with some of its creditors to delay payment on convertible bonds due at week's end.