Article Abstract:
Hydro-Quebec and Bell Canada are on the verge of establishing a jointly-owned company that is set to handle their internal telecommunications networks in Quebec, Canada. The partnership requires both Hydro-Quebec and Bell Canada to invest approximately C$100 million in assets and hire 300 workers for the to-be-formed firm. The new entity is also set to market its services to other large institutions, including banks and state-owned departments, that have huge internal networks that link their workers, offices and plants.
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Is on the verge of forming a jointly-owned co w/ Hydro-Quebec to handle internal telecommunications networks in Quebec, Canada
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Quebec Finance Minister Bernard Landry is calling for a renegotiation of the deal to restructure Canada's stock markets, stating that the economic future of the province will depend on the maintenance of a junior stock exchange. Landry also said that the transformation of the Montreal Exchange into a derivatives-only market will be too risky. The minister stressed the need for the government to consider the overall economy and not look solely on the interests of the financial industry.
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Seagram Co Ltd's Universal Music Div has formed a joint venture with German BMG Entertainment to sell music over the Internet. Under the deal, the two companies will promote each other's artists, market compact discs and eventually enable consumers to download their CD's in digital format. Universal Music and BMG controls 43% of the $13-billion music market in 1998, with sales of almost one billion CDs.
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