SOUTHNET CORPORATION CONFIRMS AGREEMENT TO COMBINE BUSINESS WITH COMCENTRAL CORP. AND AMERICA TELECOMMUNICATIONS CORP.
SOUTHNET CORPORATION CONFIRMS AGREEMENT TO COMBINE BUSINESS WITH COMCENTRAL CORP. AND AMERICA TELECOMMUNICATIONS CORP. TAMPA, Fla., Sept. 10 /PRNewswire/ -- Southnet Corporation (OTC) confirmed its agreement to combine its long distance telecommunications and operator service business with ComCentral Corp. and America Telecommunications Corp. Related to the business combination, Southnet and ComCentral have signed an interim operating agreement whereby Southnet will begin to handle and manage all telecommunications services for ComCentral's customer base. According to Southnet's President Robert J. Zradicka, implementation of the interim agreement is already underway. "We are extremely pleased with the agreements we have reached," stated Zradicka. "We believe that the combined operations will deliver better service to all our customers and drive solid financial performance to the bottom line of the consolidated company. We have set our sights on the attainment of a 10 percent rate of return to our investors and feel that the combined talents of these organizations will make this a reality." Southnet Corporation, whose stock is traded in the over-the-counter market, has been a provider of telecommunications services since 1988. In May of this year, Southnet acquired 80 percent of Telecom America, a Boca Raton long-distance marketing company with an 8 percent market share of the Florida public pay telephone business. -0- 9/10/92 /CONTACT: Ron Morris, chairman of Southnet, 800-741-5443/ CO: Southnet Corporation; ComCentral Corp.; America Telecommunications Corp. ST: Florida IN: TLS SU: TNM
BN-EA -- AT010 -- 7971 09/10/92 11:24 EDT
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|Date:||Sep 10, 1992|
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