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PACIFIC TELECOM SELLS TRT COMMUNICATIONS

 VANCOUVER, Wash., Sept. 27 /PRNewswire/ -- Pacific Telecom Inc. (PTI) (NASDAQ: PTCM) announced today that it closed the sale of TRT Communications Inc. (TRT) to IDB Communications Group Inc. (IDB) (NASDAQ: IDBX) on Sept. 23, 1993. The company received a total of 4,500,000 shares of IDB common stock and $1,000,000 in cash in exchange for the stock of TRT held by International Communications Holdings Inc. (ICH), an 85.1 percent owned subsidiary of the company, and the stock of a smaller subsidiary of the company. Of these shares, 3,200,000 were received at closing while 1,300,000 were received in January of this year when the company signed the agreement to sell the stock of TRT and the smaller subsidiary to IDB. TRT provides international telex, telephone and private line services to more than 200 countries. Based on the current trading range of IDB stock, the gain to be recorded by PTI in the third quarter as the result of the transaction, net of closing costs and other expenses, is expected to exceed the $46 million in after-tax losses recorded by PTI during 1992 relating to its investment in TRT.
 Pacific Telecom Inc. is an 87-percent-owned subsidiary of PacifiCorp (NYSE: PPW).
 -0- 9/27/93
 /CONTACT: Brian M. Wirkkala of Pacific Telecom Inc., 206-696-0983/
 (PTCM IDBX)


CO: Pacific Telecom Inc.; TRT Communications Inc.; IDB Communications
 Group Inc. ST: Washington IN: TLS SU:


JH -- SE019 -- 6159 09/27/93 19:52 EDT
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Publication:PR Newswire
Date:Sep 27, 1993
Words:246
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