PsiNet buys Interlog to boost Internet position

Article Abstract:

PsiNet Ltd., which is a subsidiary of PsiNet Inc. of Herndon, VA, acquired Toronto, Canada-based Interlog Internet Services Inc. on Jul. 29, 1998, for an undisclosed sum. The acquisition of Interlog by PsiNet Ltd. strengthens the latter's status as one of the biggest Internet access providers in Canada. The PsiNet Ltd.-Interlog deal will combine PsiNet Ltd.'s Istar Internet Inc. division, which has 80,000 subscribers, with the 50,000-client Interlog. In January 1998, PsiNet Ltd. paid C$21.6 million to purchase Istar of Ottawa, Canada.

Comment:

Acquires Toronto, Canada-based Interlog Internet Services Inc on 7/29/98 for an undisclosed sum

Article, Interlog Internet Services Inc.

PsiNet president leaves to head up American Gem

Article Abstract:

PsiNet Ltd President Nadir Desai resigned from the Markham, Ontario-based Internet service provider and joined Toronto, Canada-based American Gem Corp, which will adopt a new name, Digital Fluid Inc. By the end of 1999, Desai, who joined PsiNet in 1996, aims to make American Gem's Northern Securities Inc subsidiary into an online stock broker. Desai has given the right to acquire up to 11 million shares of American Gem at C$1.28 per share.

Investment Banking and Securities Dealing, Executive changes & profiles, Securities Dealers

Rogers sell $1.4-billion Cantel stake

Article Abstract:

Rogers Communications Inc has sold one-third of Rogers Cantel Mobile Communications Inc to British Telecommunications PLC and AT and T Corp for a total of C$1.4 billion. As a result of the deal Cantel, the largest wireless carrier in Canada, will be able to provide its consumers with long-distance and wireless telephone services, cable television, paging and Internet access.

Telecommunications, Cellular and Other Wireless Telecommunications, Mobile Radio Services, Telecommunications industry, AT&T Corp., Wireless communications services, British Telecommunications PLC, Rogers Cantel Mobile Communications Inc.