Well, looks like we are going to move today. Not internet related, but very significant news.
Friday January 29, 8:32 am Eastern Time
Company Press Release
IDT Teams With Global Telecom Carriers
Deals with Deutsche Telekom, France Telecom, Telefonica, and Swisscom N.A. help IDT's worldwide
expansion
HACKENSACK, N.J.--(BUSINESS WIRE)--Jan. 29, 1999-- As part of the company's strategy to forge pacts with the world's
leading telecommunications providers, IDT Corporation (NASDAQ: IDTC - news) announced today that it has signed agreements with four major European-based
telecoms to establish a direct fiber-optic connection between the companies for international long distance service.
Through agreements with France Telecom (NYSE: FTE - news), Deutsche Telekom (NYSE: DT - news), Swisscom N.A. (NYSE: SCM - news), and Telefonica
(NYSE: TEF - news), IDT will be able to provide better access and lower termination rates to a number of countries throughout Europe.
According to TeleGeography '99, an industry trade publication, among the world's carriers, Deutsche Telekom, France Telecom, Swisscom, and Telefonica ranked
respectively, 3rd, 5th, 8th and 16th in terms of outgoing international traffic.
''Each of these carriers rank among the top twenty of the world's largest telecoms, and we are very excited about the opportunity to be working with such prominent
and established carriers in the business,'' announced Jim Courter, president of IDT.
The agreement establishes direct channels between the companies' international switching points and IDT's facilities in the United States and United Kingdom. In
Europe, IDT already has established a strong presence in the U.K. with its facilities-based switch, and has purchased more than 12,000 km of undersea cable connecting
the U.S., Canada, and U.K. The company already has numerous operating agreements with carriers worldwide, and plans to continue the worldwide network expansion
well as joint partnerships and operating agreements.
''These carriers have recognized the global expertise and capabilities that IDT can provide, and have therefore chosen to partner with one of the fastest-growing
emerging multinational emerging carriers,'' said Geoffrey Rochwarger, IDT's senior vice president of Telecommunications. ''The opportunities provided by the
deregulation of the European telecom marketplace has enabled us to leap forward and capture market share in a short period of time, and we hope to continue our
strategy of entering markets as they allow for deregulation.''
IDT is a leading emerging multinational carrier that combines its position as an international telecommunications operator, its experience as an Internet service provider
and its leading position in Internet telephony to provide a broad range of telecommunications services to its wholesale and retail customers worldwide. The company
provides its customers with integrated and competitively priced international and domestic long distance, pre-paid calling cards, Internet access and, through its
Net2Phone product offerings, Internet telephony services including Net2Phone Direct, Net2Fax, and Click2Talk. For more information about IDT's Internet telephony
services, please visit www.net2phone.com.
Except for historical information, all of the expectations and assumptions contained in the foregoing are forward-looking statements involving risks and uncertainties.
Important factors that could cause actual results to differ materially from such forward-looking statements, include, but are not limited to, the competitive environment
for Internet telephony, changes of rates of all related telco rates and services, legislation that may affect the Internet telephony industry, IDT's ability to operate the
services described on a large scale commercial level. For additional information regarding these and other risks associated with the company's business refer to the
company's reports filed with the SEC.
Contact:
IDT, Hackensack
Public Relations: Sarah Hofstetter, 201/928-2882
Email: sarah@hq.idt.net
Investor Relations: Janine Kutliroff, 201/928-4391
Email: janinek@hq.idt.net
More Quotes
and News:
Deutsche Telekom AG (NYSE:DT - news)
France Telecom (NYSE:FTE - news)
IDT Corp (Nasdaq:IDTC - news)
Swisscom AG (NYSE:SCM - news)
Telefonica de Espana SA (NYSE:TEF - news) |
