Canal+, Exante and France Telecom Reach an Agreement On the Cable Networks Operated by NC Numericable.PARIS--(BUSINESS WIRE)--Dec. 17, 1999-- Canal+, Exante and France Telecom have announced their intention to combine their cable-related activities into one entity. Upon the completion of this operation, France Telecom will have a 42.5% stake in the new entity following its contribution of its cable network currently operated by NC Numericable. Canal+ and Exante will each have approximately 28%. This transaction will enable the entity to become a full-fledged cable operator with an independent cable infrastructure allowing it to offer broadband services: television channels, Internet and telephony via cable. The new entity will market multiple services leveraging Canal+'s experience in television and Exante's expertise in fixed telephony and Internet access See how to access the Internet. over cable. France Telecom will be a financial investor in the new entity and is expected to divest its stake during an initial public offering that should take place within three years. Exante will become more involved in the day-to-day operations. This agreement allows France Telecom to end the process of exiting the Plan Cable structure, which started one year ago, under conditions allowing the parties to share the value collectively created on a fair basis. The implementation will take into account the interest of the relevant municipalities. About Numericable Over the last two years, NC Numericable's subscriber base has grown to 390,000 from 359,000; it has increased its number of television channels to 100 from 70, and its revenues have soared from FRF FRF The ISO 4217 currency code for the French Franc. 750 million to FRF900 million. NC Numericable is currently developing an Internet offer. About Exante Exante consists of a group of North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. financial investors supporting the global cable telecom development and operational company Callahan Associates International that encompasses Caisse des Depots du Quebec, Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , GE Capital Structured Finance and CAG CAG 1 Chronic atrophic gastritis 2 Coronary angiography, see there , a joint venture between Callahan Associates International and Angelo, Gordon & Co. About France Telecom France Telecom (NYSE NYSE See: New York Stock Exchange : FTE FTE Full-Time Equivalent FTE Full-Time Employee FTE Full-Time Equivalency FTE Full Time Employment FTE Foundation for Teaching Economics FTE Full Time Enrollment FTE For the Enterprise (SQL) FTE Fund for Theological Education ) is one of the world's leading telecommunications carriers, with 1998 consolidated operating revenues of 24.6 billion euros (first nine months 1999: 19.7 billion euros) and operations in more than 50 countries. France Telecom provides businesses, consumers and other carriers with a complete portfolio of solutions that spans local, long-distance and international telephony, data, wireless, multimedia, Internet, cable TV, broadcast and value-added services. France Telecom held an initial public offering in October 1997 and is listed on the Paris and New York stock exchanges New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . |
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