To: Kimberly Lee who wrote (42830 ) 12/10/1999 11:50:00 AM From: lizard lick Respond to of 108040
TLMD Telemonde Inc. Announces Voice Traffic Agreement Worth $7.2 Million With (Business Wire 12/10 11:21:53) Spain's Jazztel
Business Editors
NEW YORK--(BUSINESS WIRE)--Dec. 10, 1999--Telemonde Inc. (OTCBB:
TLMD) announced today that it has signed an agreement worth $7.2
million with Jazztel S.A., the operating subsidiary of Jazztel plc
(NASDAQ: JAZZ; EASDAQ: JAZZ ES) for the termination of substantial
volumes of Spanish voice traffic by Telemonde's retail arm, EquiTel
Communications Ltd.
Simultaneously the companies have reached conditional agreement
on the purchase by Jazztel, for $7.2 million, of a high capacity fiber
optic link on the Telemonde network between London and Madrid. This
transaction, subject to contract, is anticipated to close before
December 31, 1999.
"This deal comes at a great time for both companies," said
Telemonde's President Adam Bishop. "At a stroke it will enable Spain's
most dynamic carrier to deliver a faster and more cost-effective call
service on a highly competitive international route, while making our
Spanish call prices internationally competitive."
Telemonde Inc. is a telecommunications business focused on
building a global infrastructure network interconnecting the markets
of the developed world with regional hubs in the developing world,
enabling the latter's populations to participate fully in the global
communications community.
Over this platform, the Company offers PTTs and other
telecommunications operators managed bandwidth, voice and data
services through its network of telehouses and switching
infrastructure, as well as broadband and connectivity solutions for
next generation Internet and multimedia companies.
Jazztel plc is one of the first nationwide competitive local
exchange carriers in Spain and was granted a national license to
provide facilities-based telecommunications services after the
liberalization of the Spanish telecommunications market on December 1,
1999.
The Company is building, in high-density business districts, a
fiber optic telecommunications network using synchronous digital
hierarchy (SDH) technology. The network, known as E1-4U, will offer
medium-size businesses enhanced local, national and international
voice and data services, including Internet and broadband
communications.
Certain statements in this news release may constitute
"forward-looking" statements within the meaning of section 21E of the
Securities Exchange Act of 1934. Such forward-looking statements
involve risks, uncertainties, and other factors, which may cause the
actual results, performance, or achievement expressed or implied by
such forward-looking statements to differ.
--30--KMK/ph*
CONTACT: Telemonde, Inc.
by
Investor Communications Co.
800/419-5211 and 800/419-5311
iccinfo.com
or
StockIR
stockir.com
KEYWORD: NEW YORK INTERNATIONAL EUROPE
INDUSTRY KEYWORD:COMPUTERS/ELECTRONICS TELECOMMUNICATIONS
MARKETING AGREEMENTS
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
S.BW TLMD