CANTV Signs Capacity Agreement with New World Network; Agreement Will Provide CANTV With High Speed Connectivity and Regional Reach.Business Editors/High-Tech Writers MIAMI--(BUSINESS WIRE)--April 21, 2004 New World Network, Ltd., a leading provider of advanced, high-speed clear channel and IP services and the principal owner of the Americas Region Caribbean Optical-ring System (ARCOS ARCOS Automation of Reports and Consolidated Orders System (Drug Enforcement Administration) ARCOS Americas Region Caribbean Optical-Ring System ARCOS Automated Roster Callout System ARCOS Area Cosine (trigonometry) ), announced today a capacity services agreement with CANTV CANTV Compañía Anónima Nacional Teléfonos de Venezuela , the leading provider of telecommunication services in Venezuela. New World Network will provide fully protected capacity services to CANTV through the ARCOS Submarine Cable See Telegraph. See See also: Cable Submarine System from Miami to Venezuela. "This agreement provides a long term solution for the rapid growth of traffic to and from Venezuela, delivering a highly resilient solution to CANTV," stated Alfonso Olombrada, General Manager of Interconnection of CANTV. "The unique fiber ring architecture helps us provide secure and dependable connectivity that our customers expect from us," added Olombrada. "Through this agreement, New World Network continues to demonstrate its commitment to the region and its ongoing relationship with CANTV by providing technologically advanced fiber optic capacity services" said Eduardo Gandarilla, Senior Vice President of Sales and Marketing of New World Network. About CANTV CANTV, a Venezuelan corporation, is the leading Venezuelan telecommunications service provider A Telecommunications Service Provider or TSP is a type of Communications Service Provider that has traditionally provided telephone and similar services. This category includes ILECs, CLECs, and mobile wireless companies. with approximately 2.7 million access lines in service, 2.7 million cellular subscribers and 1 million Internet users as of December 31, 2003. The Company's principal strategic shareholders are affiliates of Verizon Communications
Verizon Communications, Inc. Inc. with 28.5% of the outstanding capital stock, and Telefonica S.A. with 6.9%. Other major shareholders include the Venezuelan Government with 6.6% of the outstanding capital stock (class B Shares), and employees, retirees and employee trusts which own 9.0% (Class C Shares). Public shareholders hold the remaining 48.9% of the outstanding capital stock. About New World Network New World Network is a wholesale services provider that offers advanced, high-speed bandwidth capacity to telecommunications companies and Internet Service Providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. . The company's Americas Region Caribbean Optical-ring System (ARCOS) is the leading undersea broadband fiber-optic cable network connecting the U.S., Mexico, Central America Central America, narrow, southernmost region (c.202,200 sq mi/523,698 sq km) of North America, linked to South America at Colombia. It separates the Caribbean from the Pacific. , South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. and the Caribbean. The unique hybrid ownership structure of ARCOS is co-owned by 28 carriers throughout the region and led by New World Network, the principal owner with approximately 88.2% interest. For more information, visit http://www.nwncable.com |
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