NL Update

Price cap decision to be released ThursdayThe CRTC is issuing its long-awaited price cap decision this coming Thursday, May 30. The ruling is rumoured to be the largest in the commission’s history in terms of number of pages, and will have a significant impact on the telecom industry. Network Letter will provide full coverage of the decision after its release. More details. Northwestel hit by strikeThe International Brotherhood of Electrical Workers has begun a strike against northern ILEC Northwestel. The telco says it has provisions in place to continue service despite the walkout. More details. Teleglobe filing delayedBattered carrier Teleglobe Inc. announced last week that it would not be filing its annual financial statements for fiscal year 2001 by the required dates. The company is currently under creditor protection in Canada and Britain. A similar application in the United States has been stymied by the courts, although the firm says it expects a decree to be granted by tomorrow. More details. BCI delisted from NASDAQBell Canada International stock has fallen below the minimum bid price needed to continue being listed on the NASDAQ exchange. The BCE Inc. subsidiary has asked for a hearing to remain on the exchange. More details. Bell Nordiq announces first distributionIt’s not all bad news for BCE. Its Bell Nordiq Income Fund announced its first distribution of just under a dime per unit. This is slightly above the amount the fund expects to make as monthly payments. More details. 360networks delays filing financialsTaking a page from the Teleglobe book, 360networks Inc. says it will not release its fiscal year 2001 filings as it should. The company has been in creditor protection for nearly a year. More details. AT&T Canada raises $85.5 million in interest rate swapsAT&T Canada Inc. has raised $85.5 million by monetizing cross currency interest rate swaps. Its banking agreement has been changed, conditional on the results of the CRTC’s price cap decision. More details. Telus denied increase in NSF chargeThe CRTC last week turned down an application by Telus Communications Inc. to amalgamate its NSF charges into one system – Telecom Order 2002-205. The commission said such a move would lead to a $5 increase for Alberta subscribers. FCC releases telephone trends studyThe Federal Communications Commission in Washington has issued its Trends in Telephone Service report. According to the report, the CLEC share of the market increased slightly and the number of high-speed Internet subscribers also grew. More details.

NL Update

News | 05/27/2002 4:00 am EDT

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