IDT Receives Telecom License in
Germany; Leading International Carrier to Provide
Telecom Services in World's Third Largest Telecom
Market
Business Editors
HACKENSACK, N.J.--(BUSINESS WIRE)--Dec. 29, 1998--IDT
Corporation (NASDAQ:IDTC) today announced that it has received
licensing to provide switched voice service in Germany, the third largest
telecom market in the world.
The Company currently routes traffic through its US and UK hubs, and
intends to increase international originating hubs with planned points of
presence in Western Europe and the Pacific Rim.
The license, effective immediately, allows IDT to offer a full range of
telecom services to both wholesalers and retailers in Germany, including
carrier services, direct dial, and pre-paid calling cards. The Company
expects to begin operations in Germany within the next three months, which
will help reduce the cost of termination and origination. The Company
intends to allocate significant capital to build switching facilities and network
infrastructure in this fast growing market.
"Thanks to the rapid deregulation of the European telecom marketplace,
we have been able to effectively capitalize on emerging markets and rapidly
begin offering an assortment of telecom services in Germany. We hope to
mirror our success in the US and UK," said IDT's President Jim Courter.
IDT is a leading emerging multinational carrier that combines its position
as an international telecommunications operator, its experience as an Internet
service provider and its leading position in Internet telephony to provide a
broad range of telecommunications services to its wholesale and retail
customers worldwide. The company provides its customers with integrated
and competitively priced international and domestic long distance, pre-paid
calling cards, Internet access and, through its Net2Phone product offerings,
Internet telephony services including Net2Phone Direct, Net2Fax, and
Click2Talk. For more information about IDT's Internet telephony services,
please visit www.net2phone.com.
Except for historical information, all of the expectations and assumptions
contained in the foregoing are forward-looking statements involving risks
and uncertainties. Important factors that could cause actual results to differ
materially from such forward-looking statements, include, but are not limited
to, the competitive environment for Internet telephony, changes of rates of all
related telco rates and services, legislation that may affect the Internet
Telephony industry, IDT 's ability to operate the services described on a
large scale commercial level. For additional information regarding these and
other risks associated with the Company's business refer to the Company's
reports filed with the SEC. |
