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Technology Stocks : WRDP Worldport - - - opens the port to the world. -- Ignore unavailable to you. Want to Upgrade?

To: SusieQ who wrote (63)	11/15/1999 12:59:00 PM
From: sydney	Respond to of 82

- Energis PLC (ENGSY: news, msgs), which supplies telecom services to business customers, surged 95 pence, or 4.3 percent, to 2295. Trading volume was 21,574,204. Thursday, Energis said it would pay $572.2 million for the Dutch fixed line operator, EnerTel. Goldman Sachs said in a research note Friday that the move was a positive step for Energis and it will be reviewing its share price target and rating for Energis. ATLANTA, Nov 11, 1999 (BUSINESS WIRE) -- WorldPort Communications, Inc. (OTCBB:WRDP) today announced that it has entered into a series of definitive agreements to sell its principal assets in an all cash transaction to Energis plc for an estimated value of $570 million. The assets to be sold include WorldPort's 85% shareholding in WorldPort Communications Europe Holdings B.V., the parent of EnerTel N.V., the leading alternative telecommunications network provider in The Netherlands, and WorldPort's switch operations in London and New York. Following the acquisition of EnerTel by WorldPort in June 1998, EnerTel successfully repositioned its product and service range, and this, together with a revised sales and marketing strategy, has enabled it to achieve rapid revenue growth and become EBITDA positive. The sale to Energis will enable EnerTel to further expand its network capacity and reach, and broaden its product and service portfolio. WorldPort intends to apply a portion of the net proceeds to be realized from this sale to repay existing debt. Salomon Smith Barney is acting as financial advisor to WorldPort on this transaction.