Teleglobe merging with U.S. telcom

Article Abstract:

Teleglobe Inc. said it is merging with Excel Communications Inc. in a $10--billion deal, that would establish a long-distance communications firm with a global network. The two firms jointly announced that they would benefit from Teleglobe's strength in intercontinental network and Excel's dominant US network. The two firms said they want to be anchored so they could take advantage of the untapped market in the G-7 countries, which granted Teleglobe license to operate in their territories. Charles Sirois, Teleglobe chief executive, said the firm was four or five years advance in meeting its timetable for expansion because of the merger.

Comment:

Says it is merging with Teleglobe Inc. in a $10--billion deal, that would establish a long-distance firm

United States, Communications, Broadcasting and Telecommunications, Teleglobe Inc., EXCEL Communications Inc.

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Fonorola bidding war shaping up

Article Abstract:

Call-Net Enterprises Inc. has opted to extend its C$1.6 billion offer to acquire Fonorola Inc. to midnight on Jun. 8, 1998. The extension would give Fonorola time to consider competing bids. Analysts speculate that GTE Corp. of Stamford, CT; WorldCom Inc. of Jackson, MS; BT PLC and Cable & Wireless of London, UK, may be among Call-Net's rivals in the bid to acquire Fonorola. Meanwhile the Quebec Securities Commission has supported Ontario regulators' decision to allow Fonorola's poison pill to remain in effect until Jun. 26, 1998.

Comment:

Has opted to extend its C$1.6 billion offer to acquire Fonorola to midnight on Jun. 8, 1998

Asset sales & divestitures, Call-Net Enterprises Inc., Fonorola Inc.

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Rogers seeks change in cable ownership rules

Article Abstract:

Rogers Communications Inc. (Toronto) has asked the broadcasting regulator to end its policy that prohibits cable operators from owning specialty cable channels. Rogers' cable systems are in 2.2 million Canadian homes compared with the 550,000 customers subscribing to BCE Inc.'s Bell ExpressVu small-dish system. BCE reported revenue in excess of $14-billion in 1999, while Rogers' revenue was $3.1-billion. Controlling interset in Sportsnet is available to Rogers but the CRTC has given BCE a year to sell the sports channel.

Telephone communications, exc. radio, Telecommunications services industry, Rogers Communications Inc.

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