Teleglobe to hasten global network

Article Abstract:

Teleglobe Inc. (Montreal) plans to accelerate the expansion of its global network to gain more Internet business. The release of operating loss for the first quarter ended March 31 2000 has created the need to compensate for the margins in Teleglobe's traditional business. Teleglobe reported a share loss of 10 cents from core operations, instead of an expected 10 cent share profit. Its share price fell $1.80 on the Toronto Stock Exchange to close at $33.40. Teleglobe has budgeted US$875-million, this year, for the $5-billion, five year initiative. According to Terence Jarman, the head of the company's US arm, although Teleglobe is taking action to reduce its expenses, the losses will continue till the fourth quarter. Jean Monty, chairman of Teleglobe, adds that the rapid growth in demand for the Internet and data services confirms the need to accelerate the deployment of Teleglobe's new high-speed network, linking more than 100 countries.

Teleglobe Inc.

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On-line video erases tape

Article Abstract:

Canada's Telus Corp. introduces the largest online video service provided by a partnership between Blockbuster Inc. and Enron Broadband Services. The service is the first of its kind in North America and allows customers to choose from Blockbuster's vast library of old and new digital movies which are then accessed over high-speed phone lines.

United States, On-Line Information Services, Telegraph & other communications, Services introduction, Strategic alliances, Videotex & Teletext Svcs NEC, Prerecorded Tape, Compact Disc, and Record Stores, Record & prerecorded tape stores, Videotape Sales & Rental Stores, Financial services industry, Financial services, Services, Online services, Internet services, Online information services, Video stores, TELUS Holdings Inc., Blockbuster Inc., BBI, AGT, Enron Broadband Services

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GT plans IPO; could raise $300-million

Article Abstract:

Vancouver, BC-based GT Group Telecom Inc. will launch an initial public offering that is expected to raise as much as $300 million. GT Group will use the funds to retire the telecom's bridge financing related to its purchase of Calgary, Alb.-based Shaw Communications Inc.'s telecommunications operations.

Asset sales & divestitures, Acquisitions & mergers, Sales, profits & dividends, Satellite Telecommunications, Cable and other pay TV services, Satellite Voice Communications, Mergers, acquisitions and divestments, Finance, Shaw Communications Inc., Satellite communications services industry, GT Group Telecom Inc., Satellite telephony

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