article

PRIMUS To Acquire Retail Business, Assets ofTelegroup

Posted: 07/1999

Business News

PRIMUS To Acquire Retail Business, Assets of
Telegroup

PRIMUS Telecommunications Group Inc., McLean, Va., a facilities-based global
telecommunications company, announced that it has agreed to acquire substantially all of
the retail assets and business of Telegroup Inc., Fairfield, Iowa, for approximately $72
million in cash and debt securities.

PRIMUS will purchase Telegroup’s retail customer base and related assets in the United
States, Japan and Hong Kong, and the stock of Telegroup’s European subsidiaries whose
operations are exclusively retail. PRIMUS will acquire substantially all of Telegroup’s
global network, including switches in New York, London, Germany, France, The Netherlands,
Switzerland, Italy, Tokyo and Hong Kong; calling card platforms in the United States and
Europe; Telegroup’s web-based order-entry and provisioning systems for agents; and its
global network management center.


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