AMERICAN TELESOURCE ANNOUNCES NEGOTIATIONS FOR
ACQUISITION AND COMMENTS ON STOCK TRADING DELAY
American TeleSource International, Inc.
12500 Network Blvd., Suite 407, San Antonio, Texas 78249
FOR IMMEDIATE RELEASE
Contact: Karen R. Mella
Phone: (210) 547-1000
FAX: (210) 547-1001
Stock Symbol: AI
Internet: atsi.net
CUSIP: 03018P108
AMERICAN TELESOURCE ANNOUNCES NEGOTIATIONS FOR
ACQUISITION AND COMMENTS ON STOCK TRADING DELAY
SAN ANTONIO, TEXAS, April 3, 2000 -- American TeleSource International, Inc. "ATSI" (AMEX: AI) announced today that it is in negotiations to acquire a telecommunications company in Mexico, which holds a long distance concession license issued in that country.
ATSI has received preliminary approval of the transaction from Mexico's telecommunications regulator, Comisi¢n Federal de Telecomunicaciones ("COFETEL"), and is seeking further regulatory approval from the Secretar¡a de Comunicaciones y Transportes ("SCT").
On Thursday, March 30, 2000, an unauthorized link to what appeared to be a Company news release on such a transaction was posted on the Internet. The link was not part of the Company's Web site. The unofficial press release was not issued by the Company and should not be relied upon by investors.
As a result of this unauthorized posting, the Company requested that The American Stock Exchange delay trading of its stock until after an appropriate press release was issued. The Company is pursuing a full investigation of the incident.
American TeleSource International, Inc. is an emerging international carrier serving certain niche markets in and between Latin America and the United States.
This news release contains forward-looking statements. Events may not develop as contemplated. There can be no assurance that the discussions referenced above will result in any agreement or, if they do, that the transaction will receive required governmental approvals or that the other conditions to its consummation will be satisfied.
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Copyright¸ 2000 American TeleSource International, Inc. |
