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Technology Stocks : VersaTel Telecom International NV-(VRSA) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (1)	7/1/1999 9:40:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 73

Versatel Sets Offering Price Between EU8 and EU10 per Share Bloomberg News July 1, 1999, 2:36 a.m. PT Amsterdam, July 1 (Bloomberg) -- VersaTel Telecom International NV, a Dutch phone company, will sell shares at 8 to 10 euros each in an initial public offering to raise money to build its telecommunications network in Belgium and the Netherlands. The Amsterdam-based company plans to sell 18 million new shares and 3.25 million existing shares, to be traded on the Amsterdam Stock Exchange and the Nasdaq in the U.S. The company said last week it would also sell $250 million in 10-year notes denominated in dollars and euros. The note sale is conditional on completing the IPO. The company plans to use those proceeds to repay $150 million of debt from its purchase of Dutch rival Svianed BV, completed June 11 for 350 million guilders ($164 million) in cash. VersaTel will use the rest of the IPO funds to expand its network and to finance future acquisitions. The company is building a fiber optic network in Belgium, the Netherlands and Luxembourg. The network also will connect with London, Paris, Frankfurt and Dusseldorf, Germany. news.com