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Technology Stocks : JAZZTELL -- Ignore unavailable to you. Want to Upgrade?

To: lizard lick who wrote (2)	10/15/2000 4:44:00 PM
From: lizard lick	Read Replies (2) \| Respond to of 7

here are some more tidbits, including positive mention from friday off the easdaq Madrid, October 13th, 2000.- Jazztel and T-Online today announced the effective closing of the acquisition of the entire issued share capital of Ya.com by T-Online. On September 4th, 2000, Jazztel and T-Online entered a purchase agreement which comprises approximately 15.25 million new T-Online shares from a capital increase and Euro 100 million in cash. Total consideration to Jazztel consists of 10.65 million new T-Online shares, Euro 23 million debt repaid to Jazztel and Euro 100 million in cash. Jazztel's shares will be subject to sale restrictions in respect of one-third until after October 17th, 2000 and two-thirds until after December 1st, 2000, except with the consent of T-Online. Ya.com's other shareholders have also agreed to certain restrictions on the sale of shares. The New T-Online Shares will be admitted to the Frankfurt Stock Exchange, with trading on the Neuer Markt and rank pari passu in all respects with existing T-Online Shares, including the right to receive all dividends and other distributions declared, made or paid hereafter. Mr. Martín Varsavsky, Chairman of Jazztel, commented, ""We are happy to announce the closing of the sale of Ya.com, our residential Internet business. This transaction will allow us to focus on our core business; the building of our high capacity fibre optic network and the provision of bandwidth and value-added services to SME's in the Iberian Peninsula. Mr. Antonio Carro, Chief Executive Officer of Jazztel, commented, ""The disposal of Ya.com will completely transform our funding needs going forward, with a reduction in our overall funding requirements of over Euro 160 million over the next three years. With the proceeds from the transaction, assuming the sale of T-Online shares at the current share price, we expect to be funded into 2003. This funding position will allow us to further secure our first mover advantage and establish Jazztel as the leading facilities based telecommunications provider for businesses in Spain and Portugal."" Madrid, Spain, October 11th, 2000 - Jazztel p.l.c. (Nasdaq, Easdaq: JAZZ), a facilities-based telecommunications and Internet services provider that is constructing a fiber-optic telecommunications network to be the first nationwide competitive local exchange carrier (CLEC) in Spain and Portugal, announces the appointment of Pedro Mayor as Chief Operating Officer (COO), replacing Antonio Cantón who will leave the company shortly. Pedro Mayor has held the position of Managing Director for Carrier Services at Jazztel. Previously he was Deputy Managing Director of Wholesale Business at Telefónica, including the interconnect agreements and relationships with new Operators. Prior to this position, Mr. Mayor was in charge of marketing activities to the Business Market for Telefónica. Mr. Mayor will report directly to Antonio Carro, the Chief Executive Officer at Jazztel. ""Pedro's past experience along with his clear understanding of our strategic goals make him the right choice as COO,"" said Carro. ""We know that our management team is one of our key competitive advantages"" Pedro Mayor holds a degree in telecommunications engineering from the Polytechnic University of Madrid. He completed executive courses at Spain's prestigious IESE business school.