Stock Watcher's Thread / Pix of the Week (POW) Message Board

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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW)

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Jan 8 3:59 PM EST

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To: Stock Watcher who wrote (9681)	5/27/1999 6:17:00 AM
From: flickerful	Read Replies (1) of 52051

Mexico's Telmex to invest in Williams By Reuters Special to CNET News.com May 26, 1999, 5:30 p.m. PT Williams Communications Group said today that Mexican phone group Telefonos de Mexico will invest up to $100 million in the company and the two will connect their long distance fiber-optic networks. It is only the latest deal the communications unit of Tulsa, Oklahoma-based energy group Williams has struck for investments that will occur simultaneously with its planned initial public offering. The company has filed with federal regulators for a $750 million IPO, with no price range yet given. Telmex will buy up to $100 million of the Class A common shares of Williams Communications at the time of the IPO. The deal will help the companies bring voice, data, and video between Mexico and the United States, Williams Communications said, adding it will use the money to continue building its network. The agreement comes on the heels of a planned $200 million investment from Intel, the leading computer chip maker, in exchange for which Williams will provide network transmission services for Web-hosting computer centers being built by Intel. Regional phone group SBC Communications in February struck an alliance with Williams Communications, taking up to a 10 percent stake for as much as $500 million, concurrent with the IPO in exchange for network space. Through such deals, the company is helping to ensure it will have plenty of traffic for its high-capacity network. Its fiber optic network is one of the four largest long distance networks in the United States and services 50 of the top U.S. markets. It plans to expand the network to reach 125 cities nationwide by the end of next year. Story Copyright © 1999 Reuters Limited. All rights reserved.

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