NL Update

Teleglobe reportedly considering bankruptcy and layoffsTeleglobe Inc. is preparing to lay off up to 800 workers this week and may opt for bankruptcy before next week, the Washington Post reports. Spokesmen for Teleglobe and consulting firm Crossroads LLC, which is advising the telecom company, were selective in which media they spoke with, but refused to confirm or deny anything. More details. AT&T Canada and noteholders in disputeA group of institutional investors has filed an oppression application with the Ontario Superior Court of Justice claiming AT&T Canada Corp. has been acting against its interests. The CLEC rejects that assertion and vows to fight the suit. More details: AT&T Canada noteholders file an oppression application against AT&T Canada and its directors AT&T Investor overview 360networks delays annual report360networks Inc. is postponing the release of its financial results for 2001 as it seeks to restructure. The company says it cannot complete the statements until it has come to agreements with banks and unsecured creditors. More details. Rogers unveils cable, Internet bundlesRogers Cable Inc. is offering Ontario residents bundled packages, which combine various digital cable options with high-speed Internet or high-speed lite. Consumers must own digital boxes to take the bundles, although they may continue to lease them. The bundles are priced at $79.99 and $99.99 per month. More details. Group Telecom reports increased losses in Q2GT Group Telecom Inc. last week released its second quarter results. Revenues, gross margin and gross profit all increased, while net losses grew due to restructuring charges. More details. CRTC releases amended shareholders agreementIn Telecom Decision 2002-31, the CRTC issued an amended and restated unanimous Canadian Portable Contribution Consortium (CPCC) shareholders agreement. Working with the commission, the CPCC oversees the administration of the funding system used to support local telephone service in Canada. More details. Navigata completes co-location facilities buyNavigata Communications has completed the acquisition of data co-location facilities in Vancouver and Calgary from BridgePoint International (Canada) Inc. The acquisition significantly increases Navigata’s data co-location facilities by 9,000 sq. ft. with four centers located in B.C., Alberta, Ontario, and Quebec. More details.

NL Update

News | 05/13/2002 4:00 am EDT

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