stake

 

Private Equity Firm Buys Stake in Integra

Private equity firm Warburg Pincus will invest at least $245 million to obtain a substantial equity interest in Integra Telecom Inc. The proceeds from the transaction will be paid to existing Integra investors in exchange for outstanding shares, Integra said. Integra Telecom will continue to operate as a privately held company and will not raise […]

Vodafone Wont Sell Stake in Verizon Wireless

Vodafone said Wednesday it wont sell its stake in Verizon Wireless. The British company owns a 45 percent stake in Verizon Wireless and had an option to sell up to $10 billion of it to Verizon Communications Inc. By declining to sell, Vodafone ends recent speculation about what it would do with its U.S. arm. […]

Palm to Sell 25 Percent Stake

Palm Inc. said Monday it will sell a 25 percent stake to private equity firm Elevation Partners for $325 million and name former Apple Inc. executive Jon Rubinstein as chairman. The deal calls for the company to pay $9 per share, or about $940 million, in a special distribution to shareholders. The company said funds […]

Boingo Acquires Concourse

Wholesale Wi-Fi network aggregator Boingo Wireless Inc., on Wednesday announced its acquisition of Concourse Communications Group LLC, an airport neutral-host wireless access systems operator. The acquisition combines Concourses neutral-hosting operations with Boingo’s global Wi-Fi network aggregation and wireless Internet access services for Boingo subscribers and partners. Boingo said the business lines are complementary with no […]

Interoute Gets Cash from Tecom

Interoute Communications Ltd., the privately held owner and operator of the i-21 voice and data network in Europe, has signed a partnership agreement with Tecom, a United Arab Emirates telecom operator and member of Dubai Holding. Under the contract, Dubai Holding (Tecom) has taken a stake in Interoute, in exchange for an equity investment totaling […]

Global Crossing Recovery Hits Speed Bump

Four months out of bankruptcy, Global Crossing Ltd. is taking a detour on its road to recovery. The carrier disclosed in April the access charges it paid to local phone companies were greater than it had estimated in its financial statements. Global Crossing revealed it may have to restate financial results for 2002 and 2003 […]

Carrier Channel: WCG Appoints CEO, Emerges as WilTel

Posted: 12/2002 WCG Appoints CEO, Emerges as WilTel By Josh Long WILLIAMS COMMUNICATIONS GROUP Inc. (WCG) has appointed a new president and CEO after emerging from bankruptcy this fall. It also has a new but familiar name: WilTel Communications Inc. New chief executive Jeffrey K. Storey also will serve on the board of directors. He […]

Williams Communications Emerges from Bankruptcy

Williams Communications Group Inc., a national carrier selling voice and data services to other communications companies over a 33,000-mile backbone network, today announced it has emerged from bankruptcy with a lot less debt and a new name, WilTel. WilTel emerges with a new $375 million credit facility and no “substantial” debt obligations other than commitments […]

Investors Stake $250 Million in Pathnet

Posted: 01/2000 Investors Stake $250 Million in Pathnet Pathnet (www.pathnet.com), a carrier’s carrier for second- and third-tier U.S. markets, has announced investment contracts with Colonial Pipeline Co. (www.colpipe.com), Burlington Northern Santa Fe Corp. (www.bnsf.com ) and CSX Corp. (www.csx.com) valued at $250 million. As part of the agreements, Pathnet will receive the right to develop […]

BellSouth Takes a Stake in Qwest

Posted: 06/1999 BellSouth Takes a Stake in Qwest By Ken Branson BellSouth Corp., Atlanta, ever anxious for the day when it can offer long distance service, has taken a $3.5 billion, 10 percent stake in Qwest Communications International Inc., Denver. The companies will share sales forces and technical resources, marketing to each other’s customers when […]

The ID is: 76188