Call-Net extends bid for Fonorola
Article Abstract:
Call-Net Enterprises Inc. has moved the deadline for its unsolicited C$1.65-billion takeover attempt for Fonorola Inc., a Montreal, Quebec-based long-distance company, to until midnight on May 29, 1998, when the latter's shareholders can tender shares. Two-thirds of Fonorola's shares must be tendered for Call-Net to succeed in its bid. Investors Group Inc., a mutual fund company, belongs to three institutional investors which, as a group, have enough shares to hinder Call-Net's takeover. Investors Group executives and the top official of Call-Net have already met to discuss the deal.
Comment:
Moves deadline for unsolicited C$1.65-bil takeover of Fonorola Inc, to until midnight on May 29, 1998
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Deal gives MetroNet high-speed national network
Article Abstract:
MetroNet Communications Corp., the alternative local telephone company based in Calgary, Alberta, has acquired one dozen fiber-optic lines from Ledcor Industries Ltd. for C$200 million. The lines will allow Metronet to provide national long-distance and Internet services across Canada by interconnecting the fiber-optic networks in has established in big Canadian cities. The company, which presently leases high-speed lines from other companies, expects substantial savings from the acquisition of the lines, said MetroNet president and CEO D. Craig Young.
Comment:
Acquires one dozen fiber-optic lines from Ledcor Industries Ltd. for C$200 mil
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Comment about this article or add new information about this topic:
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