PLFM - great news!!- biz.yahoo.com
Wednesday July 29, 1:14 pm Eastern Time
Company Press Release
Platforms International Corp. Announces Brazil Telecommunications Auction Report I
LOS ANGELES--(BUSINESS WIRE)--July 29, 1998--Howard A. Foote, president and chief executive officer of Platforms International Corp.
(OTC/BB:PLFM - news), Wednesday announced that at the conclusion of the first part of the Brazil Telecommunications Auction -- land-based companies --
Platforms' Strategic Partners had won the largest telecommunication company offering this morning.
''BRT Participacoes and Construtora Andrade Gutierrez S/A, both Platforms ARCS Technology Strategic Partners, pooled their resources and won the largest
land-based telecommunication company offered for sale by the government of Brazil this morning,'' stated Foote. ''BRT and AGT won the bid for Tele Norte
Leste, paying $3.4 billion for the land-based telecommunication company touted as the 'crown jewel' of the offering.''
Tele Norte Leste covers a service sector that includes 16 different states, from Rio de Janeiro and Minas Gerais to the Amazon Region, with a population of 86
million, a subscriber base of 7.7 million, and an estimated demand of 40 to 50 million additional lines.
''We are delighted with the results of the first part of the auction, and the very significant win by our strategic partners. We are strategically positioned to rapidly
and cost-effectively assist and support our strategic partners meet the demand for additional lines, in both the land-based and cellular telecommunication sectors.
We are now awaiting the results of the second part of the auction -- the Cellular Sectors -- at which time we will make further announcements,'' concluded
Foote.
SAFE HARBOR ACT DISCLAIMER:
The forward-looking statements in this release involve risks and uncertainties, including, but not limited to, the successful completion of the project discussed.
Successful completion of the project is subject to a number of uncertainties and unforeseen events, and there can be no assurance that the goals of the company
stated herein may be realized in the time frame discussed. Forward-looking statements represent the company's beliefs and expectations concerning future events,
including future sales of its products and services. These forward-looking statements are qualified by important risk factors that could materially impact the
company's business and its ability to complete the projects it has undertaken.
Contact:
InterMedia Marketing Corp.
Michael Iorlano, 818/981-9031
www.platforms-intl.com |
