Callahan Associates International Launches Callahan Broadband Wireless Inc.; Appoints Wireless Executive Mark Bell CEO; Initial European Investment to Exceed USD 75 Million.Business/Technology Editors DENVER--(BUSINESS WIRE)--July 12, 2000 Callahan Associates International, the Denver-based global communications development and operating company operating company A business that engages in transactions with outsiders. , along with its investment partners, Angelo, Gordon, The Edward P. Bass Group and Investcorp today announced the launch of Callahan Broadband Wireless See wireless broadband. , Inc., a global company to accelerate Callahan Broadband Wireless activities. Callahan Broadband Wireless, Inc., was formed to run Callahan Associates' existing global Broadband Wireless operations in Switzerland and Finland, where initial investments will exceed USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 75 Million. Callahan Broadband Wireless will develop local operations to meet the unique requirements of each market and bring world class operating standards for Broadband Wireless access globally. The company will further develop Callahan Associates' current business activities in the Broadband Wireless arena in Europe, Asia and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . Callahan Associates is one of the largest cable operators and broadband providers in Europe. Callahan Associates International also announced the appointment of Mark S. Bell as Chief Executive Officer of the new company. Mr. Bell has held a number of executive positions in the wireless industry. His most recent position was Vice President for Business Development for US West Wireless. Other positions have included Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of One2One in the United Kingdom, the first PCN 1. PCN - Program Composition Notation. 2. (communications) PCN - Personal Communication Network. business in the world. Mr. Bell repositioned One2One by building out the network to produce a business that was later sold for USD 11 billion. Mr. Bell created the first Central European wireless businesses in Central Europe Central Europe is the region lying between the variously and vaguely defined areas of Eastern and Western Europe. In addition, Northern, Southern and Southeastern Europe may variously delimit or overlap into Central Europe. , Westel in Hungary and Eurotel in the Czech and Slovak republics. In addition, he was CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the cellular business, BPL See broadband over power lines. in India. Dick Callahan, Founder and Chairman of Callahan Associates International, said, "I am delighted that Mark Bell, whom I have known for 16 years, has accepted the position to lead our new company, Callahan Broadband Wireless, Inc. We hold a strong belief that broadband is the future and that customers will have broadband access alternatives - cable, wireless and satellite. With the appointment of Mark Bell and the creation of Callahan Broadband Wireless, we add another experienced executive and a broadband communications business to our already successful European Cable operations. Mark's experience in developing and operating wireless businesses will greatly help us continue our efforts and expansion in the wireless arena." Mark Bell said, "I am delighted to take up this new position working under Dick Callahan's leadership and with the Callahan team. This is a significant time for the company as it ramps up to develop its European Broadband Wireless licenses and continues to grow its Broadband Wireless business with new licenses or acquisitions." Mr. Bell's appointment to this newly formed corporation follows on the success Callahan has achieved in winning five broadband licenses in Switzerland and three broadband licenses in Finland. Callahan Associates International Callahan Associates International LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control is a global development and operations company focusing on global information, communications and entertainment markets. Callahan Associates is one of the leading cable communications operators in Europe serving more than 20 million franchise homes, including ONO, Spain's largest national cable operator, Numericable's cable operations in France, and, recently, the agreements (subject to regulatory approval) to acquire 55 percent of each of the North Rhine Westphalia and Baden Wurttemberg cable networks from Deutsche Telekom. Callahan Associates creates locally owned, managed and self-sustaining companies with opportunities in Europe, Asia and globally. www.callahanassoc.com Angelo, Gordon & Co., L.P. Angelo, Gordon is a privately held firm focusing exclusively on alternative money management activities, including private equity investments, opportunistic real estate, distressed securities Distressed Securities A company that is currently going through hard times and, as a result, the market value of its securities or assets fall substantially in value. Notes: These securities then become attractive to bottom fishers or vultures. and merger arbitrage Merger Arbitrage A hedge fund strategy with which the stocks of two merging companies are simultaneously bought and sold to create a riskless profit. Notes: A merger arbitrageur looks at the risk of the merger deal not closing on time or at all. , for institutional clients and high net worth individuals. These disciplines seek to generate absolute returns by exploiting market inefficiencies and capitalizing on situations that are not in the mainstream of investment opportunities. At present the Firm has approximately $5 billion under management. Over the past few years, Angelo, Gordon has established a significant private equity business. In addition to its telecommunications investments, the Firm holds investments in financial services and Internet infrastructure industries. Angelo, Gordon's private equity investment strategy is to provide equity capital at attractive valuations to companies with exceptional management, sustainable competitive advantages and a well developed and high value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. plan for use of the capital. Edward P. Bass Group The Edward P. Bass Group is a diversified investment organization located in Fort Worth, Texas Fort Worth is the fifth-largest city in the state of Texas, 18th-largest city in the United States[1], and voted one of "America’s Most Livable Communities. . The Group's interests include operating businesses as well as passive and active investment strategies. Along with other Bass family affiliations, the Edward P. Bass Group has interests in oil and gas production, gas gathering and processing, carbon black production, real estate development, domestic and international private equity, venture capital, and management of absolute return investment strategies. Investcorp Investcorp, a leading global investment group with offices in London, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Bahrain, is particularly known for its corporate private equity business. From its inception in 1982, Investcorp has been active as a European investor with the focus and expertise appropriate to this investment market. It has successfully concluded transactions across Western Europe and North America, with a total acquisition value of approximately US$17 billion. Over the past 18 months, Investcorp and its clients have been making a series of investments in telecommunications and technology, as part of a global initiative |
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