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Technology Stocks : V.LKC - Interactive TV, wireless ISP -- Ignore unavailable to you. Want to Upgrade?

To: bafan_57 who wrote (43)	10/20/2000 9:12:39 AM
From: bafan_57	Respond to of 68

Look on the lookout for financing 'Merger a possibility' Kathryn Leger Financial Post MONTREAL - Look Communications Inc. said yesterday it is trying to line up private equity financing to complement a $208-million bank facility to fund the rollout of its operations at least until next June. Look did not specify the amount it is hoping to raise but said it was publicly updating its financing plan "in response to recent market speculation." "There can be no assurance that any such discussions will lead to an agreement or that any equity financing will be completed," Look said. The company offers digital television and high speed Internet access and other Web services using MDS (multi-point distribution system). The company has tried to arrange public equity issues twice this year but abandoned plans given poor market conditions. Company officials were not available yesterday, but one insider close to the company said a private placement "may involve a strategic partner such as Microcell [Telecommunications Inc.] and a full-blown merger between [Microcell and Look] would make a tremendous amount of sense." A merger "is a distinct possibility," the insider said, adding that no time frame is in place for that option. As reported in the Financial Post yesterday, Charles Sirois, who owns a big chunk of both Microcell and Look through his privately held Telesystem Ltd., is looking at how the activities of both companies could be combined. kleger@nationalpost.com stockhouse.com