Cable Satisfaction Will Pursue Its Growth Strategy.Business Editors MONTREAL--(BUSINESS WIRE)--Aug. 14, 2000 Cable Satisfaction International Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CSQ CSQ Certificat de Sélection du Québec (Quebec selection certificate; immigration document) CSQ Carrier Squelch (radio, scanner) CSQ Customer Satisfaction Questionnaire .)(Csii) announced that the Special Committee mandated by the Board of Directors on June 1, 2000, to evaluate strategic alternatives for Csii has recommended that the Company continue to pursue the promising growth of Cabovisao, its operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. in Portugal, and that discussions that could have lead to the sale or merger of the Company be terminated. The Special Committee, chaired by Mr. J. V. Raymond Cyr, O. C., was formed for the purpose of evaluating all alternatives of Csii to optimize shareholder value in the context of preliminary discussions that could have lead to an offer for the Company, as was announced on May 11, 2000. After careful consideration of all matters, together with its advisor, TD Securities, the Special Committee determined that it is in the best interests of shareholders to continue the implementation of the Companys fully funded business plan. The Special Committee is of the opinion that the strong growth in Portugal and the entry into promising market niches will lead to increased value, notably for the following reasons: -- The growing value of its hybrid HFC network (Hybrid Fiber-Coax network) A communications network (typically a cable TV network) that uses a combination of optical fibers and coaxial cable. The fiber provides the high-speed backbone, and the coax is used to connect end users to the backbone. , with more than 280,000 homes passed as of August 5, 2000; -- The acceleration of subscriber growth. As of August 5, 2000, Cabovisao had 78,245 basic cable television subscribers, 13,300 Pay-TV subscribers and 2,110 subscribers to its recently launched high-speed Internet service; -- Following conclusive preliminary trials, Cabovisao plans to launch telephony over cable in the fall using CornerStone technology developed by Nortel Networks; -- Construction of its national fibre optic backbone network, allowing the Company to offer an array of digital services throughout Portugal, started in April and 240 km were completed as of August 5, 2000. Csii builds and operates large bandwidth hybrid fiber coaxial (HFC 1. (networking) HFC - Hybrid Fiber Coax. 2. (hardware) HFC - hydrofluorocarbon. ) networks and, through its subsidiary Cabovisao, provides cable television services and high-speed Internet access in Portugal, where it will also be offering telephony and high-speed data transmission services. Csii will also build a national fibre optic backbone to offer all the services of the new digital economy throughout Portugal. The subordinate voting shares Voting Shares Shares that give the stockholder the right to vote on matters of corporate policy making as well as who will compose the members of the board of directors. Notes: Different classes of shares, such as preferred stock, sometimes don't allow for voting rights. of Csii are listed on The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. . |
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