[fONOROLA Rejects Call-Net Offer]
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MONTREAL, June 22 /PRNewswire/ -- fONOROLA Inc. announced today that its Board of Directors has determined that it will not recommend that its shareholders accept the revised offer from Call-Net Enterprises Inc. which was announced on June 17, 1998 and that it is continuing discussions with others with a view to developing a superior proposal.
fONOROLA currently owns or has agreed to acquire over 23,000 route kilometres of fibre-optic network in Canada and the United States. When completed, the network will span the North American continent from Vancouver, Seattle and Los Angeles on the West Coast to Halifax, New York City and Miami on the East Coast and major cities in between. Combining the capacity, speed and reliability of fibre-optic cable and of Nortel's state-of-the-art OC-192 SONET technology, this new transcontinental network will also provide the shortest direct fibre-optic route from North America to Europe and Asia.
fONOROLA offers its customers a full range of high-quality, price-competitive voice and data communications services. Headquartered in Montreal, the Company operates switching centres in Vancouver, Calgary, Toronto, Seattle, Buffalo and New York City, and, through its wholly owned U.S. subsidiary, fONOROLA Corporation, is a licensed facilities-based carrier in the United States. |
