Net2Phone Inc-(NTOP) Message Board

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Technology Stocks : Net2Phone Inc-(NTOP)

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To: KLP who wrote (900)	8/12/2000 6:21:14 AM
From: James Overko	Read Replies (1) of 1556

AT@T excecutive VP on NTOP board!!!!! AT&T bought four million new Class A shares from Net2Phone and 14.9 million Class A shares from Net2Phone parent IDT Corp. for $75 each, more than double today's closing price. The investment, announced in March, gives AT&T a 39 percent voting stake and a 32 percent economic stake in Net2Phone. ************** As part of the transaction, Net2Phone said John Petrillo, its executive vice president of corporate strategy and business development, and AT&T Business Services President Richard Roscitt will join the company's board. Net2Phone's software transforms circuit-switched telephone calls into packets of data that move over networks in separate chunks, much like e-mail messages. Sending information this way is cheaper because it means that one voice call doesn't monopolize a channel on the network.

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