The following just came up on my news alert program. Anyone care to translate what this means to us poor stock holders? txs Colin
HACKENSACK, N.J.--(BUSINESS WIRE)--March 3, 1999--IDT Corporation
(NASDAQ:IDTC) announced today that it has extended the expiration date
of the Consent Solicitation relating to its 8.75% Senior Notes, which
was commenced on February 2, 1999.
The period in which holders of the Notes may deliver a consent,
or revoke a consent that has been previously delivered, has been
extended by five business days, to Wednesday, March 10, 1999. All of
the remaining terms of the consent solicitation will remain the same.
Holders of record of the Senior Notes as of February 1, 1999 have
received a detailed Consent Solicitation Statement that describes the
terms of the Consent Solicitation.
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.
--30--sdg/ny* |
