Star One AG, a Germany-based wireless broadband telecommunications company, received $72 million in its second round of funding from investors headed by Incepta International. Star One was awarded 158 license areas to build and operate a point-to-multipoint broadband wireless network in Germany, with plans to offer high-speed data transport, Internet access and local and long-distance voice services. As the largest contributor in this round of financing, Incepta will have a representative on Star One’s supervisory board.
Price Communications Corp.’s board of directors authorized the company to purchase up to 2 million additional shares of its common stock in the open market or in private transactions. “In light of our performance and recent valuations of companies in the wireless communications sector, our board of directors believes that the shares are attractively priced and that the proposed purchases will be in the best interest of the company and its shareholders,” commented Robert Price, president and chief executive officer of Price. The company operates cellular systems in 16 licensed service areas in the southeast United States covering approximately 3.3 million potential customers.
Amdocs Ltd., a provider of customer care, billing and order management solutions for the communications industry, reached an agreement to acquire Solect Technology Group Inc., a provider of Internet Protocol billing and customer care software, for $1 billion in Amdocs shares or 6.9-percent of the company’s enlarged, fully diluted share capital. Under terms of the acquisition, which was approved by the boards of both companies, Amdocs will issue an aggregate 15.5 million Amdocs shares and options in exchange for the outstanding common stock of Solect and the assumption of outstanding Solect employee stock options. The acquisition is expected to close by the end of April.
The Canadian Customs and Revenue Agency ruled that BCE Inc., its Canadian shareholders and the Canadian shareholders of Nortel Networks Inc. will not have to pay any federal income taxes on BCE’s plan to distribute an approximate 36-percent interest in Nortel to BCE’s common shareholders. The distribution is expected to take place before the end of the second quarter.
