We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
Lloyds Bk. 43 | LSE:10NT | London | Medium Term Loan |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
RNS Number:5140E Nortel Networks Corp 26 January 2000 For more information: Media Relations: David Chamberlin Nortel Networks (972) 685-4648 ddchamb@nortelnetworks.com Media Relations: Paul Goyette Nortel Networks (905) 863-4702 goyettel@nortelnetworks.com Investor Relations: Angela McMonagle Nortel Networks (905) 863-6044 mcmona@nortelnetworks.com BCE Plan Heralds Nortel Networks Evolution to Totally Independent, Widely Held, Internet Powerhouse --A'Win-Win'for Shareholders BRAMPTON, Ont -- BCE's plan to distribute an approximately 37 percent ownership interest in Nortel Networks* (NYSE/TSE: NT) to its shareholders will result in a stronger Nortel Networks, president and chief executive officer John Roth said today. "It will unleash us as a totally independent global company focused squarely on the growth engines of the Internet," Roth said. "It will put us on an equal footing with our peers in that our ownership and stock will be widely held. With more shares available to the market more people will be able to participate as we move to unlock the tremendous potential Nortel Networks has as a leader in the Internet revolution. It is a 'win-win' for our present and future shareholders." Under the proposed plan, a new publicly traded Canadian company will be created which will own all of the common shares of and continue Nortel Networks. Nortel Networks public common shareholders will receive one common share in the new company in exchange for each Nortel Networks common share they now hold, so that their level of investment is retained. BCE shareholders will retain their BCE shares and receive approximately .78 of a common share (subject to adjustment) in the new company for each BCE common share held. The share exchange will not be taxable to Canadian or United States Nortel Networks public shareholders. The transaction will be subject to regulatory, shareholder and court approval, and receipt of appropriate tax rulings. Nortel Networks and BCE have signed a definitive agreement, approved by both Boards of Directors, to implement the proposed transaction and expect the Plan of Arrangement to be implemented by the end of the second quarter, 2000. "BCE and Nortel Nerworks' heritage dates back to over a century ago," added Roth. "Today's announcement marks our coming of age as a global Internet powerhouse. With it we will be able to build an even stronger company for our employees, customers and shareholders, enhancing Canada's role at the forefront of the Internet revolution." RBC Dominion Securities, Inc., and Credit Suisse First Boston Corporation are acting as financial advisors to Nortel Networks on the proposed plan. EDITOR'S NOTE: Nortel Networks will also hold a press conference and Webcast at 5 pm EST (USA) today, which will be available via satellite, to discuss BCE's decision to distribute substantially all of its Nortel Networks' ownership. Roth and Frank Dunn, senior vice president and chief financial officer at Nortel Networks, will be available to answer questions immediately following the press conference. Roth will also issue a five-minute statement to the media at 4:40p.m. EST that will be available via satellite and will be rebroadcast at 6:05p.m. EST. Please refer to Nortel Networks Media Alert for Web Site and satellite coordinates information. Nortel Networks is a global leader in telephony, data, eBusiness, and wireless solutions for the Internet. The Company had 1999 U.S. GAAP revenues of US$21.3 billion and serves carrier, service provider and enterprise customers globally. Today, Nortel. Networks is creating a high-performance Internet that is more reliable and faster than ever before. It is redefining the economics and quality of networking and the Internet through Unified Networks* that promise a new era of collaboration, communications and commerce. Visit us at www.nortelnetworks.com Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price and product competition; the dependence on new product development, the impact of rapid technological and market change; the ability of Nortel Networks to integrate the operations and technologies of acquired businesses in an effective manner; general industry and market conditions and growth rates, international growth and global economic conditions, particularly in emerging markets and including interest rate and currency exchange rate fluctuations; unanticipated impact of Year 2000 issues, and the impact of consolidations in the telecommunications industry. For additional information with respect to certain of these and other factors, see the reports filed by Nortel Networks with the United States Securities and Exchange Commission. Nortel Networks disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. *Nortel Networks, the Nortel Networks Globemark, Unified Networks, and How the world shares ideas are trademarks of Nortel Network. END HOLUNVARRVRAUUR
1 Year Lloyds Bk. 43 Chart |
1 Month Lloyds Bk. 43 Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions