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

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

---

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

Other Communications Equipment Manufacturing, Fiber Optics Systems & Equip, Alberta, Fiber optic networks, MetroNet Communications Corp., Ledcor Industries Ltd.

---

Similar abstracts:

• Abstracts: Paterson fears for his legacy. NASD alleges CSFB vowed to promote 724 stock
• Abstracts: Charest draws flak for posting. Former Videotron employees sue over firings, compensation
• Abstracts: Genetic trait for diabetes uncovered. Lack of protein may be linked to birth defects. New genetic controls urged
• Abstracts: Newcourt breaks off Deutsche talks. Newcourt, Deutsche Bank talk stock deal
• Abstracts: Tobacco firm gets CCAA aid in tax fight. CSIS agent destroyed Air-India evidence

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