Canadian-under $3.00 Stock-Picking Challenge Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: jonpeetee who wrote (6535)	2/11/2002 9:43:46 AM
From: Al Collard	Read Replies (3) of 11802

TSX-t...in the news: Van Sun says 360 parent Ledcor exits debt obligation Mon 11 Feb 2002 The Vancouver Sun reports in its Saturday edition that insolvent 360networks has done a deal to assume full control of the company that owns and operates its Canadian fibre optic network in exchange for cancelling a debt owed by its major shareholder, Ledcor Group. The unbylined item says 360networks will acquire the control block of Urbanlink Holdings Ltd. from the Worldwide Fibre Holdings subsidiary of Ledcor Group, the construction company that spun off 360networks into a publicly traded outfit two years ago. It will then cancel an $82.3-million (U.S.) note, wiping out Ledcor's indebtedness to 360networks. The deal also grants 360networks an option to buy back up to 62 million of its shares now owned by Ledcor's Worldwide Fibre unit. Jimmy Byrd, chief operating officer, said: "This is an important agreement because the network assets of Urbanlink are an integral component of our company's operations and reorganization efforts. We look forward to welcoming the Urbanlink team back to 360networks and to integrating their network assets with our existing operations." 360networks operates a 36,000-kilometre-long fibre optic network in the United States and Canada.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next