Canada Trust buys 5 Citibank branches

Article Abstract:

Canada Trust Co, a CT Financial Services Inc subsidiary, has acquired five retail branches of Citibank Canada, in a deal that gives the former another C$1 billion in client assets. The five Canadian branches include one each in British Columbia's Lower Mainland in Richmond, Coquitlam and Vancouver, and two in Toronto, Canada. In addition, the deal also calls for Canada Trust to receive the retail banking assets and liabilities of Citibank and other branch services such as mutual funds, RRSPs and mortgages.

Commercial Banks, Commercial Banking, Asset sales & divestitures, Acquisitions & mergers, Trust, Fiduciary, and Custody Activities, Corporate Trust Services, Citibank Canada

Shaw plans to sell non-voting shares

Article Abstract:

Shaw Communications Inc of Calgary, Alberta, has announced its plans to sell four million non-voting shares at C$65 each to raise C$260 million. the compamy said that it will use the proceeds to finance its recent acquisitions, fund future growth and boost its balance sheet. Calgary's purchase of Fundy Communications Inc for C4460 million, Access Communications Inc for C$167 million and Cogeco Cable Inc's systems for C$37.6 million has pushed its debt-to-cash flow ratio to above 4 to 1.

Cable Television Systems, Cable Networks, Securities issued, listed, Cable television broadcasting industry, Cable television, Shaw Communications Inc.

Land lines and cells crack under pressure

Article Abstract:

The massive North American power failure forced many office buildings in Ontario to shut down and send workers home. The blackout also forced down large segments of the country's mobile telephone systems while affecting only a small segment of the fixed-line systems.

Wired Telecommunications Carriers, Telephone Communications, Telephone communications, exc. radio, North America, Use of energy, Economic aspects, Energy use, Telephone services, Power failure, Power failures