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Technology Stocks : TLMD - Telemonde Inc - Next Generation Global Telco Winner -- Ignore unavailable to you. Want to Upgrade?

To: M.R. Davis who wrote (19)	6/23/1999 1:44:00 PM
From: FJ	Respond to of 25

Telemonde Inc to acquire 100% of the outstanding shares of TGA Limited NEW YORK, June 23 /CNW-PRN/ - Symbol TLMD. Telemonde Inc (''Telemonde'') announces that it has reached agreement to purchase 100% of the issued and outstanding stock of TGA Limited (''TGA'') a licensed, UK based telecom company that is engaged in the switching of wholesale voice telephony for international carriers. The consideration will be paid in common stock in Telemonde to be issued at the prevailing market price at completion to a value not exceeding US$1.5 million. TGA have a fully operational, carrier-grade switch in Telehouse 1, London (the UK's leading telecoms collocation facility) with a number of key interconnect agreements involving the switching of international voice traffic for MCI Worldcom (WCOM), Teleglobe Inc (TGO). TAG have significant expertise in the building of profitable carrier routes in the international marketplace. TGA also provides Telemonde with an in-house software development capability in billing systems and pre-paid calling card platform support, which will enhance Telemondes's switched services international voice business. The acquisition of TGA and the completion of the previously announced acquisition of EquiTel Communications will permit Telemonde to further develop its switched voice services business and to commence switching voice traffic immediately under existing international traffic service agreements with major international carriers totalling 15 million minutes of voice traffic per month estimated to be worth approximately US$3 million per month in revenues or approximately US$36 million in a full year. Telemonde anticipates that revenues from switched services are currently expected to exceed US$100 million per annum in 2000. This news release contains certain forward-looking statements that involve risks and uncertainties. Factors that could cause or contribute to such risks and uncertainties include, but are not limited to, general economic and business conditions, competition, changes in technology and methods of marketing and various other factors beyond the control of Telemonde, Inc. Source Telemonde Inc. biz.yahoo.com