To: Mazman who wrote (8999 ) 10/28/1998 6:14:00 PM From: Mazman Respond to of 12468
I especially like the last paragraph..Teligent offers data, phone service Reuters / October 28, 1998, 2:10 p.m. PT Teligent, the upstart communications company led by former AT&T President Alex Mandl, is finally open for business. Eleven months after launching its initial public offering, Teligent yesterday started providing phone and data service in ten U.S. cities and announced plans to move into five additional markets by year-end. Teligent offers small and medium-sized businesses local, long distance, high-speed data, and Internet services for a flat monthly rate, with up to 30 percent savings off traditional communications services. Teligent's wireless system uses digital radio signals instead of using traditional copper wires or fiber optic cables. "Teligent is making its long-awaited debut. Big things are expected," said industry analyst Jeffrey Kagan of Kagan Telecom Associates. Led by Mandl, who was once seen as the heir-apparent at AT&T, Teligent has attracted much attention on Wall Street even without meaningful revenues or customers. Teligent has built a solid foundation, with a $100 million investment last year from Japan's Nippon Telegraph and Telephone and secured financing to bankroll it through the year 2000. Teligent has also grown its workforce to about 1,200 workers and signed agreements to provide telecommunications services in buildings owned by real estate companies such as CarrAmerica Realty and U.S. RealTel. While Teligent is making a strong start, the company is still behind other emerging companies such as WinStar Communications which already provides service to customers, analysts said.