NL Update

Aliant sells Stratos Global stakeAliant Inc. has entered into an agreement to sell its majority stake in Stratos Global Corp. to a syndicate of underwriters led by RBC Capital Markets. Priced at $13 per share, the 26 million shares will bring in nearly $340 million to the regional telco. Aliant held 53.2% of company.CEP vows to fight foreign ownership changesThe Communications, Energy and Paperworkers Union of Canada (CEP), which represents several telecom workers, is lobbying the federal government to keep restrictions on foreign investment in the telecom and communications sectors. The CEP plans to enlist the Canadian Labour Congress to help its campaign. The federal government is expected to reply to the parliamentary Industry committee’s recommendations on foreign investment in the sectors later this week (NL, Sept. 16/03).Nortel invests US$200 million in R&D in ChinaNortel Networks Corp. will invest US$200 million over three years in an R&D facility in China. The equipment manufacturer hopes to double its R&D workers in the country by the end of the year. The company, which also plans to open a new campus in Beijing, recently announced a similar deal with Bell Canada (NL, Sept. 16/03).B.C. Labour Board rules against TWUThe British Columbia Labour Relations Board (BCLRB) has ruled against the Telecommunications Workers Union in a dispute over the shutdown of the CGT call centre in Vancouver. The union had asked for leave for reconsideration, which the BCLRB rejected. The union is considering its future options.Telus Québec launches portal for metalheadsTelus Québec has unveiled NETMETAL, an Internet portal to carry B2B transactions in the metal industry. The telco and CANARIE Inc. have invested $3.2 million in the portal. The new product is the result of a five-year development deal involving seven partners.MTS responsible for Centrex maintenance for AllstreamThe CRTC has ruled, in Telecom Decision 2003-62, that MTS Communications Inc. is responsible for the costs of equipment needed to maintain digital Centrex service for Allstream Corp. The CLEC had filed the complaint as a Part VII application. The commission wants other carriers to show cause why they should not operate under similar rules.Tory telecom executive cited in cash rowThe former president of Symphony Telecom Corp. has been accused of not paying a settlement over wages with two former employees, The Toronto Star reports. Daniel Cullen no longer works for the telco, but was at the parent company when the complaint was filed with the Ontario Labour ministry. Cullen is currently running in the Ontario election as the Progressive Conservative candidate in Toronto’s York Centre riding.FTC settles with Canadian telemarketersThe Federal Trade Commission in Washington has settled two cases against telemarketers operating in Canada. The telemarketers, who operated under a variety of names including NAGG Holdings Ltd., Canada Prepaid Legal Services, and BSI Premium Bonds, had promised that people who paid a one-time fee of $5,000 would receive monthly payments ranging from $5,000 to $12,000. Two B.C. residents, Dillon Sherif and Melissa Robinson, sold foreign lottery tickets.PIAC wins costs for party-line rental interventionThe Public Interest Advocacy Centre has been granted $6,611.91 in costs for its work in attacking Bell Canada’s increases in party-line rental sets (NL, Aug. 27/02). The telco had disputed the request, saying it had uncovered the discrepancies on its own. The CRTC disagreed, awarding the money in Telecom Costs Order 2003-10.Onlinetel reports record revenues in Q4 2003Onlinetel recorded its fourth consecutive quarterly increase in revenues in the fourth quarter of its current fiscal year. The VoIP subsidiary of Eiger Technology Inc. said its revenues in July and August were 8% higher than the first two months of Q3 and 39% above a year earlier. The telco projects an annualized revenue run rate of $6 million.Persona receives bids for assetsPersona Inc. has announced that, following the first round of its shareholder value maximization process, offers have been made for some assets of the cableco and for the company as a whole. The would-be buyers are now going through due diligence. TD Securities Inc. acted as financial advisor to Persona.Revenues, profit up at TigerTelTigerTel Communications Inc. says its revenues in the first quarter of the year were $3.2 million, up from the $2.3 million recorded one year ago. Gross profit was $1.5 million this year against $1 million in 2003. The Mississauga ON telco reported a smaller net loss than a year earlier.YAK buys next-gen switch from TekelecYak Communications Inc. has purchased a next-gen switch from Tekelec of Calabasa CA. The switch will deliver local and LD voice service to customers. Yak is a Toronto-based reseller (NL, Apr. 22/03).

NL Update

News | 09/22/2003 4:00 am EDT

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