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Technology Stocks : 360networks formerly Worldwide Fiber Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Condor who wrote (70)	3/23/2000 7:13:00 PM
From: The Devil Dog	Read Replies (1) \| Respond to of 125

--@ Rogers will invest $125 million for 49 per cent of a new ``Internet backbone' company involving Shaw and Vancouver-based 360networks. Earlier this week, Shaw made a major investment in the global fibre-optic network company. Message 13267584 personally I dont see how they can own that much , cause ledcor is the major shareholder as far as I knew As part of a strategy of building a national Internet backbone company, Shaw announced earlier this week a transaction with 360networks (formerly Worldwide Fiber Inc.) that would see Shaw invest US$100 million in 360networks, acquire a national dark fiber network for $225 million, and commit to purchase approximately $25 million of OC-48 capacity over a 3 to 4 year period. Rogers has agreed to invest $125 million in the new Internet backbone company and receive a 49% interest in the new company. Shaw and Rogers will commit all of their Internet backbone traffic to this new company. Rogers will also have the right to purchase US$25 million of Shaw's US$100 million investment, at cost, in 360networks. newswire.ca Rogers has agreed to invest $125 million in the new Internet backbone company and receive a 49% interest in the new company. now does this mean 49 % of 360 or a new joint company between shaw and rogers setting up a "new internet backbone company" Best Regards WB