here are some more tidbits, including positive mention from friday off the easdaq
Madrid, October 13th, 2000.- Jazztel and T-Online today announced the
effective closing of the acquisition of the entire issued share capital of
Ya.com by T-Online.
On September 4th, 2000, Jazztel and T-Online entered a purchase agreement
which comprises approximately 15.25 million new T-Online shares from a
capital increase and Euro 100 million in cash. Total consideration to
Jazztel consists of 10.65 million new T-Online shares, Euro 23 million debt
repaid to Jazztel and Euro 100 million in cash.
Jazztel's shares will be subject to sale restrictions in respect of
one-third until after October 17th, 2000 and two-thirds until after December
1st, 2000, except with the consent of T-Online. Ya.com's other
shareholders have also agreed to certain restrictions on the sale of shares.
The New T-Online Shares will be admitted to the Frankfurt Stock Exchange,
with trading on the Neuer Markt and rank pari passu in all respects with
existing T-Online Shares, including the right to receive all dividends and
other distributions declared, made or paid hereafter.
Mr. Martín Varsavsky, Chairman of Jazztel, commented, ""We are happy to
announce the closing of the sale of Ya.com, our residential Internet
business. This transaction will allow us to focus on our core business;
the building of our high capacity fibre optic network and the provision
of bandwidth and value-added services to SME's in the Iberian Peninsula.
Mr. Antonio Carro, Chief Executive Officer of Jazztel, commented, ""The
disposal of Ya.com will completely transform our funding needs going
forward, with a reduction in our overall funding requirements of over Euro
160 million over the next three years. With the proceeds from the
transaction, assuming the sale of T-Online shares at the current share
price, we expect to be funded into 2003. This funding position will allow us
to further secure our first mover advantage and establish Jazztel as the
leading facilities based telecommunications provider for businesses in Spain
and Portugal.""
Madrid, Spain, October 11th, 2000 - Jazztel p.l.c. (Nasdaq, Easdaq: JAZZ), a
facilities-based telecommunications and Internet services provider that is
constructing a fiber-optic telecommunications network to be the first
nationwide competitive local exchange carrier (CLEC) in Spain and Portugal,
announces the appointment of Pedro Mayor as Chief Operating Officer (COO),
replacing Antonio Cantón who will leave the company shortly.
Pedro Mayor has held the position of Managing Director for Carrier Services
at Jazztel. Previously he was Deputy Managing Director of Wholesale
Business at Telefónica, including the interconnect agreements and
relationships with new Operators. Prior to this position, Mr. Mayor was in
charge of marketing activities to the Business Market for Telefónica. Mr.
Mayor will report directly to Antonio Carro, the Chief Executive Officer at
Jazztel.
""Pedro's past experience along with his clear understanding of our strategic
goals make him the right choice as COO,"" said Carro. ""We know that our
management team is one of our key competitive advantages""
Pedro Mayor holds a degree in telecommunications engineering from the
Polytechnic University of Madrid. He completed executive courses at Spain's
prestigious IESE business school. |
