Transworld Telecommunications Terminates Discussions with Videotron USA, to Pursue Strategic Opportunities
Transworld Telecommunications Inc. has announced the termination of discussions with Videotron USA Inc. regarding the reorganization of their joint venture. The decision follows a preliminary agreement signed on September 16, 1994, to combine the assets of Wireless Holdings Inc. and Videotron Bay Area Inc. into a single entity. Despite the termination, Transworld remains committed to exploring strategic opportunities to develop its business and maximize the value of its assets.
Key Takeaways:
- Transworld Telecommunications Inc. has terminated discussions with Videotron USA Inc. regarding the reorganization of their joint venture.
- The termination follows a preliminary agreement signed on September 16, 1994, to combine the assets of Wireless Holdings Inc. and Videotron Bay Area Inc. into a single entity.
- Transworld will continue to explore strategic opportunities to develop its business and maximize the value of its assets.
- The company owns 50% of Wireless Holdings, which operates in five locations with approximately 5,000 subscribers.
- In addition, Transworld owns 20% of Videotron Bay Area, a wireless system in Tampa, Florida, with approximately 5,000 subscribers.
- The company also has leases for 10 wireless-cable channels in Auckland, New Zealand.
Statistics:
- Wireless Holdings operates in five locations with approximately 5,000 subscribers.
- Videotron Bay Area, a wireless system owned by Transworld, has approximately 5,000 subscribers.
- Transworld Telecommunications is a public company, trading on the Boston Stock Exchange under the symbol TWL and on the Over-the-Counter market under the symbol TTIW.
Sources:
- "Transworld Telecommunications Inc. Announces Termination of Discussions with Videotron USA Inc. Regarding Joint Venture Reorganization." Business Wire, 27 Dec. 1994. [1]
- "Transworld Telecommunications Inc." Business Wire, September 16, 1994. [2]