MetroNet speeds up 10-year plan

Article Abstract:

MetroNet Communications Corp.'s acquisition of Rogers Telecom Inc. of Toronto, Ontario, for C$1 billion will allow the firm to fulfill the goals of its 10-year-plan goals early. Calgary, Alberta-based MetroNet's president and CEO, Craig Young, said that the purchase of Rogers Telecom will reduce by at least three years the time needed by his firm to become the leading rival of Canada's local phone firms. He adds that the acquisition has removed a potential rival in the industry and the cost of building a similar network that he estimates would have cost MetroNet C$500 million.

Comment:

Its acquisition of Rogers Telecom Inc of Toronto, Ontario, for C$1 bil will make it reach its 10-year-plan's goals early

---

Fonorola spurns new Call-Net bid

Article Abstract:

Fonorola Inc. of Montreal, Quebec, turned down a takeover bid of C$1.78 billion from long-distance telecommunications firm Call-Net Enterprises Inc. of Toronto, Ontario. Fonorola will instead opt to seek more value from other bidders. Analysts believe that a successful takeover by Call-Net would produce a new company which would beat dominant alternative long-distance player AT&T Canada Long Distance Services Co. of Halifax, Nova Scotia. Call-Net is the operator of the second-top long-distance company in Canada called Sprint Canada Inc.

Comment:

Finds takeover bid of C$1.78 billion for Fonorola Inc. of Montreal, Quebec, rejected

Long Distance Telephone Svc, Quebec, Long distance telephone services, Call-Net Enterprises Inc., Fonorola Inc.

---

MetroNet grabs Rogers unit

Article Abstract:

MetroNet Communications Corp. of Calgary, Alberta, has acquired Rogers Telecom Inc. from Rogers Communications Corp. of Toronto, Ontario, for C$1 billion in cash and stocks. Rogers Telecom is a provider of local, high-speed data services in Canada and has about 10 times the present service capability of MetroNet. The deal, which netted C$700 million for Rogers in pre-tax gains, is seen as a big step for MetroNet as it removed a potential rival and boosted its aim to compete with Canada's largest local phone companies.

Comment:

Has acquired Rogers Telecom Inc from Rogers Communications Corp of Toronto, Ontario, for C$1 bil in cash and stocks

Telephone Communications, Telephone services, Rogers Communications Inc.

Similar abstracts:

• Abstracts: Nortel's future cloudy, but there is a plan. EnCana surpasses all Canadian profit records
• Abstracts: GM scrap new car platform intended for Oshawa plant. Toyota tops GM in global sales. GM puts rosy hue on sales; analysts are less sanguine
• Abstracts: Two biggest shareholders make offer for Meridian. Magna sells off part of Triam
• Abstracts: Decades of dithering. More questions than answers at talkfest. Federal politics: new Labor: no dissent, no debate, no passion
• Abstracts: U.S. firm scoops up Avenor mill. Bombardier defends government loans. Power expects approval to build rail cars in China

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.