WWVY wonder if it has anything to do with this other company. Or maybe someone just threw in an open order and it hit. Can't figure it out but Ive kept my position long for the long haul FWIW. Buggin me though.
Warwick Valley Telephone Invests in Fiber Optic Bandwidth Provider
WARWICK, N.Y., Jul 28, 2000 (BUSINESS WIRE) -- Warwick Valley Telephone (WVT), a regional telecommunications provider since 1902, has made an equity investment in Hudson Valley DataNet (HVDN), a competitive telecommunications company offering high-speed bandwidth throughout the region.
Lynn Pike, President of WVT, noted, "HVDN's fiber ring throughout Orange County complements our strategic plans which include expansion of our Internet service (Warwick Online) and our other telecommunications services. WVT is very confident that we have made an outstanding investment. HVDN is well positioned to be the "carriers' carrier" throughout the Hudson Valley. Their success will allow carriers, like WVT, to offer competitive services in geographic areas where we do not reach today. "
By forming alliances with companies such as HVDN, WVT will be better positioned to accelerate its expansion of service offerings throughout the Hudson Valley. HVDN's president, John Galanti, stated, "WVT`s investment gives clear support to our strategic focus of providing data communication services to small and mid-size communities."
Both HVDN and WVT are aware of the unique relationship this investment establishes. WVT is a competitor to, a customer of, and now an investor in HVDN. Galanti suggested that while this investment decision is certainly a terrific event for both companies, the true benefactor of this type of activity would be the telecommunications customer in the Hudson Valley.
Pike gave considerable credit to his management team and Board of Directors, for their vision and support of this investment action |
