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Gold/Mining/Energy : CALL NET ENTERPRISES (T-CN.B $11.25)Big upside potential -- Ignore unavailable to you. Want to Upgrade?

To: SwampDogg who wrote (117)	10/18/1999 12:49:00 PM
From: DeplorableIrredeemableRedneck	Read Replies (1) \| Respond to of 652

Call-Net Enterprises Inc - Globe says Call-Net debt holders forced compromise Call-Net Enterprises Inc CN.B Shares issued 59,725,914 1999-10-15 close $8.4 Monday Oct 18 1999 The Globe and Mail reports in its Saturday, Oct. 16, edition that Crescendo Partner had enough votes from shareholders Thursday to take control of Call-Net Enterprises, but the rebel group lacked support from debt holders -- forcing the two parties into a last-minute compromise. The Globe's Tyler Hamilton writes that without the support of debt holders, a Crescendo-controlled Call-Net would have to repay $2.2-billion in debt, threatening the company with financial ruin. The deal, reached Thursday, puts Call-Net on the auction block and allows Crescendo to place three directors on the company's board -- Colin Watson, Robert Poile and Crescendo president Eric Rosenfeld. Two independent directors will be selected later by a nominating committee. Current chairman, Lawrence Tappa and director Peter Tanaka will retain their seats, as will the three representative from Sprint Corp., which owns 25 per cent of Call-Net through common shares and Class C non-voting shares. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com