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excel, yes or even 25%. eom
Dunno GYFTDR, I just like what my DD is to date. I am not selling yet. IF this is 1/4 as good as advertised, it has a chance to move a wee bit higher than many think. To KNOW that it works, I would have to go see...and I may.
Hey Rig, wish I had been wrong. I hate O&G scams with a passion. Have paid a price for same but not really.
No guru, just a guy that has been in the patch since 1961 as a "ute". No, I am not the last word on oil and gas....NO ONE IS! That is why I love the business.
Buzz, IMO, AMEP is a buy anywhere in the .12 to .13 range. I like my DD so far.
I think that we are at or near the bottom. And, I still contend that there is shorting going on because of the announcement of the secondary and roadshow. It doesn't help that telecoms are in the dumper across the board either. I bought April calls today because I am fairly confident that ATTL will be much higher within 6 months.
We all need to work together in this snake infested swamp called the market. If we share DD and ideas, we all have a better chance to make money.
Go here for ATTL e-mail alerts:
http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=ATTL&script=1900&layout=-6
COMTEX) A: AT&T to Invest 2.5 Billion Dollars in Latin America
A: AT&T to Invest 2.5 Billion Dollars in Latin America
SANTIAGO, September 6 (xinhua) -- The AT&T Latin America, a regional subsidiary
of long-distance telephone company AT&T Corporation, is scheduled to invest
about 2.5 billion U.S. dollars in Latin America over the next five years to
expand its share in the region, the local news media reported on Wednesday.
AT&T Latin America officially launched operations in Chile on Tuesday and also
plans to extend its network and implement new technology in other countries like
Argentina, Brazil, Colombia and Peru.
"Our objective is go from being a successful local network to the best regional
network," Carlos Fernandez, chief executive of AT&T Latin America, was quoted as
saying by the local media.
The company's strategy in Chile will be to strengthen cooperation with local
companies to offer communications services, pointed out Marco Northland, vice
president responsible for products and services at AT&T Latin America.
"The communications market offers an enormous business opportunity, especially
in countries like Chile, where the data and electronic commerce markets have
good growth expectations," added Northland.
Copyright XINHUA NEWS AGENCY
-0-
Matt,
This stock at this price, is a friggin deal! It may drop another buck, but I really doubt it. Why folks don't know this play amazes me. Ya wanta stock to take care of the kids or grandkids, BUY THIS! A SURE NO ****ING BRAINER !
I get tired,
by: drillbit99 (M/HeeHawHell, Ahia) 9/4/00 7:25 pm
Msg: 6939 of 6939
of all other comparisons to ATTL. FCLX already has INFRASTRUCTURE and these other come-latelys don't! Why anyone would compare the cable in place, and the management that put it there, is beyond me......... "T" knew what they were buying and we are damn lucky to add here.
YAHOO!
finally has a quote for ATTL, man that was fast:
http://finance.yahoo.com/q?s=attl&d=t
AT&T ups IP stakes in Latin-American revolution
By Simon Marshall, Total Telecom
01 September 2000
Some of the biggest global IP players are sparking a Latin-American revolution in Brazil and Argentina. Global Crossing's backbone has just landed in Brazil and AT&T Latin America (AT&T LA) has already bought capacity on it, in competition with WorldCom subsidiary UUNet, which only opened for wholesale business there on 29 August.
UUNet told Total Telecom on Wednesday about its aggressive plans for domination on the continent, but AT&T upped the stakes Friday buying US$46.5 million in capacity from Global Crossing, and more importantly, pledging to invest US$2.5 billion in its total broadband operation there.
The Wall Street Journal reported that US$1.25 billion of the total AT&T Latin America infrastructure investment would be spent in Brazilian operations, which is also the initial focus of UUNet. In addition, AT&T LA plans an issue of 35 million shares either next month or during October dependent on financial market conditions.
The newspaper also reported that Telecom Italia SpA is forming a new company called Latin America Nautilus, of which the Italian incumbent will hold 70%, with Telecom Argentina, Entel Bolivia and Entel Chile, holding 10% each. Nautilus will have about US$120 in capital to invest immediately in a planned 30,000 kilometer fiber network connecting South American capital cities with Central and North America. The venture will also yield about US$800 million in investment, and may involve Brasil Telecom Participacoes SA in the project, which aims to win 20% of Latin American internet market.
AT&T LA's capacity buy from Global Crossing will connect Sao Paolo, Buenos Aires, Santiago, Bogota, and Lima to the U.S. by mid 2001, and Brazil could be online as soon as October this year. UUNet told Total Telecom it would link Buenos Aires, Sao Paolo, Rio de Janiero and San Juan with its backbone. It too said it would attempt to finish infrastructure build-out during 2001, setting the scene for a contest to complete fiber links and start filling the pipes with corporate and wholesale IP traffic.
With the majority of the world's Web sites hosted in the U.S., the potential for browsing traffic between there and Latin America to increase is enormous, even before packetized voice, multimedia or ASP services are added to the equation.
So far AT&T LA, UUNet, Nautilus and Teleglobe have declared huge expansion plans into the continent within weeks, even days, of each other in a drive to begin offering IP capacity and services.
The landing of Global Crossing's 18,000km SAC submarine backbone in Argentina in July and now Brazil introduces another element into play. Not only may both AT&T LA and UUNet be leasing capacity from the Bermuda-based company, but both could soon be in competition with Global's own IP service offerings.
In a separate development, AT&T LA said it is currently reviewing whether to participate in the Brazilian government's wireless spectrum auctions.
More coverage:Thursday August 31 12:07 PM ET
AT&T LatAm to Buy Global Crossing Network Capacity
NEW YORK (Reuters) - AT&T Latin America Corp. (Nasdaq:ATTL - news), a subsidiary of long-distance telephone company AT&T Corp. (NYSE:T - news), said on Thursday it agreed to buy $46.5 million of high-speed international network capacity from Global Crossing Ltd. (NasdaqNM:GBLX - news) in a move to cut the cost of transmitting voice and data services.
AT&T Latin America, which provides communications services in Argentina, Brazil, Chile, Colombia and Peru, said the new network capacity will carry primarily data and Internet-related traffic. Over time, customers will use it to send voice and video traffic.
Under this agreement, Global Crossing will provide AT&T Latin America with rights of use for high-speed lines linking Sao Paulo, Buenos Aires, Santiago, Bogota and Lima to the United States. As a result, AT&T Latin America will be able to offer complete, high-speed connections domestically, regionally and internationally.
AT&T Latin America, which began trading on Nasdaq on Wednesday, currently provides international connections through various facilities leased from third parties. By acquiring the facilities from Global Crossing, the company said it now will be able to transmit greater volume of traffic at higher speeds and at lower costs.
Thursday August 31, 11:17 am Eastern Time
Press Release
SOURCE: AT&T Latin America
AT&T Latin America Takes Major Step Toward Completion of Pan-Regional Network
- AT&T Latin America agrees to acquire USD $46.5 MM of capacity from Global Crossing linking Sao Paulo, Buenos Aires, Santiago, Bogota and Lima with the U.S.
- Deal enables AT&T Latin America to offer first single-architecture broadband network connecting Latin American customers within the region and to the U.S.
- Move expected to increase speed and quality of service, and to reduce significantly AT&T Latin America's unit international transmission costs going forward.
MIAMI, Aug. 31 /PRNewswire/ -- AT&T Latin America (Nasdaq: ATTL - news), the new full-service communications provider with operations in five Latin American countries -- which began trading yesterday -- announced today it has agreed to acquire $46.5 million of high-speed international capacity from Global Crossing (Nasdaq: GLBX - news). The agreement makes AT&T Latin America the first Latin America-focused communications services provider to offer a single-architecture international broadband network.
Under this agreement, Global Crossing will convey to AT&T Latin America IRUs (indefeasible rights of use) for high-speed lines linking Sao Paulo, Buenos Aires, Santiago, Bogota and Lima to the U.S. As a result, AT&T Latin America will be able to offer complete, IP/ATM broadband connectivity domestically, intra-regionally and internationally.
Expected completion dates for the individual circuits will be as follows: Brazil in October 2000, Argentina in November 2000, Chile in January 2001, and Peru and Colombia in mid-2001.
Currently, AT&T Latin America provides international connectivity primarily through various facilities leased from third parties. The company's acquisition of the facilities from Global Crossing will allow it to transmit a greater volume of traffic at higher speeds. In addition, the new capacity is expected to reduce significantly the company's unit cost for international transmission.
``This agreement represents a major step toward the completion of our regional and international network,'' stated Patricio E. Northland, chairman, president and CEO of AT&T Latin America. ``Our customers, particularly ISPs and multinationals, will benefit from our uniform platform throughout the region as it assures secure transmissions and consistent quality. The new capacity will also provide seamless connectivity to AT&T Corp's and Concert's worldwide IP/ATM network. Finally, we are also very pleased to be working with Global Crossing, a key partner for us in achieving our objective of becoming a leading provider of advanced communications services and solutions to businesses in key Latin American markets.''
The new international capacity will be connected to AT&T Latin America's advanced metropolitan fiber networks. The company expects that, initially, the new capacity will carry primarily data and Internet-related traffic but that, over time, its customers will use it for other broadband applications such as video, as well as for voice services.
``We are delighted to be working together with AT&T Latin America, a dynamic new company that is quickly expanding its presence in the region,'' said Patrick Joggerst, Global Crossing's president for South America. ``The seamless, high-capacity IP-network Global Crossing is building in Latin America and throughout the globe, will provide AT&T Latin America with remarkable levels of reach and flexibility. In our dynamic marketplace, access to a reliable, efficient communications platform like ours is critical. We are confident that the worldwide Global Crossing network will form a vital component of AT&T Latin America's backbone.''
About AT&T Latin America
AT&T Latin America (Nasdaq: ATTL - news) is a U.S.-based provider of advanced communications services with strong in-country presence in Argentina, Brazil, Chile, Colombia and Peru. Today, the company has more than 1,100 employees and provides advanced last-mile voice and data connectivity in key business market in the five countries. As of June 2000, AT&T Latin America's speed fiber network reached more than 3,000 route kilometers or 95,000 fiber kilometers in 11 principal metropolitan areas. The company offers broadband communications services of data, Internet, voice, video-conferencing and electronic commerce traffic over a common IP based platform. For more information, visit AT&T Latin America's web site at http://www.attla.com.
About Global Crossing
Global Crossing Ltd. (Nasdaq: GBLX - news) is building and offering services over the world's most extensive global IP-based fiber optic network, which will have more than 101,000 route miles, serving five continents, 27 countries and more than 200 major cities. Global Crossing's subsidiary, GlobalCenter Inc., is a leading Internet service company, and its customers own many of the largest and most densely trafficked sites on the Web. Global Crossing's operations are headquartered in Hamilton, Bermuda, with principal offices in Los Angeles, California; London, England; Amsterdam, The Netherlands; Madison, New Jersey; Rochester, New York; Sunnyvale, California; and Miami, Florida. Visit Global Crossing at http://www.globalcrossing.com on the Web.
SOURCE: AT&T Latin America
LULU,
No, I do not believe him ranting that it will take 2 years, he was just mad. No-one is happy because of the expectation of a large leap in price. I read the WSJ NASDQ AD yesterday and thought, as many did, that this exposure would benefit the price.
I think that many bought ATTL on margin and expected a pop to the 20's, when that failed to materialize, we had selling.
Worry not, we have a great play here and once the roadshow starts we will be found. The SPO will only aide liquidity and then we rise in price and I expect splits as early as next year.
LULU,
Thank you for those kind words, I know that we have a great stock and encourage you to post here. I will be monitoring all posts and will only keep those that are beneficial, pro or con, to all of us.
OT.To all about Online Brokers,
I have been happy with WebStreet and it's fast trading from the L2 site. But then again I was with Schwab and anything would have been better. It sounds like Fidelity is the same, snobbish.
Why ATTL is a good long term investment
by: hotel_one_alpha 8/30/00 9:03 am
Msg: 6750 of 6750 Yahoo Message Board
I have read some posts today expressing worries about possible competition for ATTL in Latin America, specifically in Brazil. There is no need for concern. Here is why.
I bought FCLX stock early last year beacuse at the time I had a consulting agreement to research Latin America for a multinational company in the electronics field. Some of the statistics I uncovered told me I should be purchasing stocks in any company in the telephone business in Latin America.
Telephones (land lines) per 1000 people: Argentina 141; Brazil 74. In contrast, the US has 602 and Sweden 683.
Cel phones per 1000 people: Argentina 12.5; Brazil 12.7. In contrast, the US has 149.5 and Sweden has 264.6
Connections to Internet per 1000 people: Argentina 0.17; Brazil 0.12. In contrast, the US has 21.82 and Finland 43.11
These figures tell the story of a gigantic potential for growth in Latin America. This growth is, of course, long term. But grow it will !! Stay long and you will make a lot of money with ATTL.
ATTCANADA's, ATTC, last Quarter numbers:
Average shares outstanding 94,580
End of period shares outstanding 95,078
End of period fully diluted
shares outstanding (4) 148,548 All numbers are in thousands so they have 148,548,000 fully diluted shares outstanding and the price is $30 today and has been as high as $63 in the last 52 weeks.
Latin America is a much larger market and one that is virgin. As stated before, the 35MM SPO is going to offer enough shares so that we can fill demand once the ATTL roadshow begins.
Matt,
It is now the AT&T of Latin America and has a great future if what I'm reading about the strongly growing LA market is true. I followed the AT&T Canada deal some time back and know that this is a larger market so I am expecting splits in the not too distant future. We will be issuing a SPO of 35 MM shares soon. Morgan Stanley Dean Witter, Credit Suisse First Boston, Merrill Lynch, J.P. Morgan and Salomon Smith Barney are underwriting the offering. So you can see that we will be on the radar screen with all of the major firms.
About ATTL;
In November 1999, AT&T Corp. announced plans to form AT&T Latin America, a company that will merge the operations of Netstream, the Brazilian competitive local exchange carrier it acquired, and FirstCom, a publicly traded communications company with operations in Chile, Colombia and Peru.
AT&T Latin America will provide technologically advanced first mile data and voice connectivity, while providing the knowledge and experience to partner with business customers to make a lasting difference. It will establish a full range of quality business services, one-stop shopping and customer service in countries where it operates.
About AT&T Corp.
AT&T Corp (http://www.att.com) is among the world's premier voice, video and data communications companies, serving more than 80 million customers, including consumers, businesses and government. With annual revenues of more than $62 billion and 147,000 employees, AT&T provides services to customers worldwide. Backed by the research and development capabilities of AT&T Labs the company runs the world's largest, most sophisticated communications network and has one of the largest digital wireless networks in North America.
About FirstCom Corporation
FirstCom Corporation operates as a publicly traded (Nasdaq: FCLX - news) competitive local exchange carrier in four major metropolitan business centers in Chile, Colombia and Peru. With annual revenues in 1999 of $38MM and approximately 650 employees at year-end, FirstCom owns and operates a technologically advanced, fiber optic IP/ATM backbone-network and provides a wide range of integrated communications services
Read some of the PR's a see that we have Brazil and other countries covered by acquisitions, I expect more.
Hope this helps, Andrew
We did well for all of the confusion,
here is a DD link from Hoovers that will help describe FCLX just before the merger.
http://qci.multexinvestor.com/data/mxcache/1750351.HTM?sid=1
SheTrade, 30K should translate into $1.5 MM soon! GREAT!
Thank you SheTrade and Racine2000, let's build this,
Most folks could not get their brokerage accounts changed to reflect ATTL. Yahoo has no listing today for information either unless you look very hard. In essence, I am saying that we need to be found by the investing community. I would like to know when ATTL is starting their roadshow.
We have the right stock in the right area of the world at precisely the right time. We just need to show our goods and potential.
Tuesday August 29, 7:16 am Eastern Time
Press Release
AT&T Latin America Completes Merger With FirstCom and Begins Trading On the NASDAQ Under the Symbol ``ATTL''
First Day of Trading Marks Official Launch of the New Company
MIAMI--(BUSINESS WIRE)--Aug. 29, 2000--AT&T Latin America, the region's newest full-service telecommunications provider with operations in five Latin American countries, begins trading today of its Class A common shares on the NASDAQ National Market under the symbol ATTL.
AT&T Latin America's public listing results from its merger with FirstCom Corporation, which was completed yesterday after a special meeting in New York for FirstCom shareholders. This merger is a key move in AT&T's strategic plan for Latin America, which began with AT&T's acquisition of two Latin American communications companies during the past year - Netstream in Brazil and Keytech LD in Argentina.
``We are excited about the launch of AT&T Latin America, and look forward to working with the associates of this new company to serve the needs of business customers in the region,'' said C. Michael Armstrong, chairman and CEO of AT&T. ``Patricio Northland and his team bring a strong entrepreneurial approach to the business, while sharing AT&T's standards of quality and service.''
``I am honored and delighted to lead AT&T Latin America Corp.,'' stated Patricio E. Northland, president and CEO of AT&T Latin America. ``With an experienced team in place, I look forward to executing our business plan and achieving our mission of becoming a leading provider of advanced communications services to businesses in key Latin American markets.''
Ownership of the company on a fully diluted basis is as follows: AT&T Corp. will own approximately 58% in the form of Class B common shares; former FirstCom shareholders will own approximately 34% of the company; SL Participacoes, an affiliate of Promon, one of the leading engineering firms in Brazil and former owner of Netstream, will own approximately 7%, and the former owners of Keytech LD will own slightly less than 1%. Holders of Class A common stock have one vote per share and holders of Class B preferred stock have ten votes per share.
Former FirstCom shareholders are entitled to receive one share of Class A common stock of AT&T Latin America for each share of FirstCom common stock they own.
The AT&T Latin America Board of Directors will be comprised of Patricio E. Northland, who will act as chairman, five AT&T Corp. representatives and three independent directors.
AT&T Latin America is a U.S.- based organization with a strong in-country presence in Argentina, Brazil, Chile, Colombia, and Peru. Today the company has more than 1,100 employees and provides advanced, last-mile voice and data connectivity in key business market in the five countries. As of June, 2000, AT&T Latin America's high speed fiber network reached more than 3,000 route kilometers or 95,000 fiber kilometers in eleven principal metropolitan areas in South America, and connects data and Internet customers in Brazil (more than 700), Chile (more than 1,000), Colombia (more than 400), and Peru (more than 500). It offers broadband communications services through its own high-speed networks, which are capable of carrying a variety of data, Internet, voice, video-conferencing and electronic commerce traffic over a common IP based platform.
AT&T Latin America also intends to offer global connectivity through its linkages and relationships with AT&T Global Network Services (AGNS) and Concert, and to distribute the services offered by both entities. AGNS offers a portfolio of managed network services for enterprise connectivity, collaboration, and network outsourcing, while Concert offers facilities based communications solutions for multinational companies and other business customers and institutions worldwide.
AT&T Latin America's goal is to become a strategic partner for each of its customers, providing the advanced communications services they need. The company intends to provide the knowledge and experience to partner with customers to make a lasting difference to their businesses.
About AT&T Corp.
AT&T Corp.(www.att.com) is among the world's premier voice, video and data communications companies, serving more than 80 million customers, including consumers, businesses and government. AT&T has annual revenues of more than $62 billion and 160,000 employees, and provides services to customers worldwide. Backed by the research and development capabilities of AT&T Labs, the company runs the world's largest, most sophisticated communications network, is the largest cable operator in the U.S., and has one of the largest digital wireless networks in North America.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: The foregoing statements involve known and unknown risks and uncertainties that may cause AT&T Latin America and FirstCom's actual results or outcomes to be materially different from those anticipated and discussed in this press release. Except for historical information contained in this press release, the matters discussed contain forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors detailed in the Company's filings with the Securities and Exchange Commission, which readers are urged to read carefully in assessing the forward-looking statements contained herein
A registration statement relating to AT&T Latin America's Class A stock has been filled with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
--------------------------------------------------------------------------------
Contact:
AT&T Latin America
Lydia R. Rodriguez
305/774-2368 (office)
305/613-6767 (cell)
lrrodriguez@att.com
or
AT&T Corp.
David J. Caouette, 908/221-6382
caouette@att.com
or
AT&T Corp.
Sue Fleming
908/221-8824 or 908/230-3042
suefleming@att.com
or
Brainerd Communicators
Lernardo Santiago, 212/986-6667
santiago@braincomm.com
ATTL hired a PRO to handle the future!
Wednesday August 23, 5:21 pm Eastern Time
Press Release
FirstCom Corp. Adds Lehman Bros. Executive to Management Team
Mickey Schleien Named V.P. - Corporate Development and Acting CFO
MIAMI--(BUSINESS WIRE)--Aug. 23, 2000--FirstCom Corporation (Nasdaq:FCLX - news), an emerging next generation telecommunications carrier with facilities based fiber optic networks in Chile, Peru and Colombia which is in the process of merging with AT&T Latin America, has appointed Mickey M. Schleien, CFA, --formerly senior vice president at Lehman Brothers--as vice president, corporate development and acting CFO.
Schleien will be a key advisor to the senior executive team on merger and acquisition matters as well as on strategic planning and capital raising, and will report directly to FirstCom's chairman, president and CEO, Patricio Northland.
Schleien, a Bolivian native and U.S. citizen, has amassed extensive experience in the financial and communications sectors throughout the Latin American region during his tenure in some of the country's most respected investment banking organizations.
``I am very pleased to welcome Mickey into the FirstCom family as he brings the right combination of financial and communications sector experience at a critical time,'' stated Northland. ``His knowledge and understanding of both the U.S. financial markets and of the Latin American communications business, as well as proven strategic counsel, will help us to quickly identify and seize appropriate new opportunities, consistent with our growth strategy. ''
While at Lehman Brothers, Schleien covered the telecommunications service sector in Latin America where he evaluated telcos in the wireline, wireless, and data businesses to support the firm's institutional clients and investment banking activities. Here, he was instrumental in taking several noteworthy Latin American companies through their IPOs and other strategic transactions, including Telefonos de Mexico, Grupo Iusacell and Conecel, among others, as well as completing the bond offering for Brazil's Telesp.
Schleien also worked with Morgan Stanley and Union Bank of Switzerland. A Chartered Financial Analyst, Schleien holds an MBA in Finance from Loyola-Marymount University and a B.S. in Chemistry from University of California in Los Angeles.
About FirstCom Corporation
FirstCom Corporation operates as a publicly traded (NASDAQ: FCLX - news) competitive local exchange carrier in four major metropolitan business centers in Chile, Colombia and Peru. With annual revenues in 1999 of $38MM and approximately 650 employees at year-end, FirstCom owns and operates a technologically advanced, fiber optic IP/ATM backbone-network and provides a wide range of integrated communications services
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: The foregoing statements involve known and unknown risks and uncertainties that may cause AT&T Latin America and FirstCom's actual results or outcomes to be materially different from those anticipated and discussed in this press release. Except for historical information contained in this press release, the matters discussed contain forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors detailed in the definitive proxy statement described below, which readers are urged to read carefully in assessing the forward-looking statements contained herein. In connection with the FirstCom/AT&T Latin America merger, FirstCom has filed a definitive proxy statement and AT&T Latin America has filed a registration statement on Form S-4. We urge investors and security holders to read the definitive proxy statement and registration statement before they make a decision concerning the merger. Security holders may obtain a free copy of those documents and other documents filed by FirstCom Corporation at the SEC's web site at www.sec.gov <http://www.sec.gov>. In addition, documents filed with the SEC by FirstCom may also be obtained from FirstCom Corporation by directing such request to FirstCom Corporation, 220 Alhambra Circle, Coral Gables, Florida 33134, Attention: General Counsel, Thomas C. Canfield (305) 459-6300. The members of the board of directors of FirstCom Corporation are Patricio E. Northland, George Cargill, Andrew Hulsh and David Kleinman. As of the date hereof, there are no other ``participants in the solicitation,'' within the meaning of Rule 14a-12 under the Securities Exchange Act of 1934, as amended. Information concerning the directors is set forth in the Definitive Proxy Statement filed with the SEC. This announcement is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consent with respect to any Senior Notes.
--------------------------------------------------------------------------------
Contact:
FirstCom Corporation, Miami
Maria Pis-Dudot, 305/459-6362 (office)
mpis-dudot@firstcom-usa.com
or
Brainerd Communicators, New York
Leonardo Santiago, 212/986-6667 (office)
santiago@braincomm.com
Note the Brokerages that will cover ATTL! AT&T LatAm files to sell 35 mln shares in U.S.
(UPDATE: Adds details)
WASHINGTON, Aug 7 (Reuters) - The Latin America subsidiary of U.S. telecommunications giant AT&T Corp. (NYSE:T - news) on Monday filed with U.S. regulators to sell 35 million shares of Class A common stock in a public offering that could raise as much as $543 million.
Coral Gables, Fla.-based AT&T Latin America Corp., which provides broadband communications services to major cities in Argentina, Brazil, Chile, Colombia and Peru, did not specify the price per share in a prospectus filed with the U.S. Securities and Exchange Commission.
``Our communications services integrate data, Internet, local and long distance voice, video and electronic commerce services,'' the company said in the prospectus.
Incorporated in October 1999, AT&T Latin America began operations in Brazil in December 1999 when it acquired Netstream Telecom and also owns and operates high-speed fiber optic networks in Brazil.
``Our objective is to be a leading provider of broadband communications services to business customers in the countries in South America and the Caribbean, plus Panama, but excluding Venezuela and Cuba,'' the company said.
The company said it would use the net proceeds from the offering to expand its communications networks, to repay some of the funds borrowed under its $100 million credit with an AT&T Corp. affiliate, as well as for working capital and other general corporate purposes.
The company said the offering would be made to the public after it merges with FirstCom Corp. (NasdaqSC:FCLX - news), a telecommunications provider with operations in Chile, Colombia and Peru. After the merger, which is expected to be completed by Aug. 31, the company will its shares on Nasdaq under the symbol ``ATTL'' (Nasdaq:ATTL - news).
FirstCom provides broadband communications services in Santiago, Chile, Lima, Peru, and Bogota and Cali, Colombia. Its shares closed up 3/4 to 13-1/8 on Nasdaq.
AT&T Latin America posted $16.1 million in net revenue and about $38.3 million in net losses during the first three months of 2000, according to the filing.
The underwriters, Morgan Stanley Dean Witter, Credit Suisse First Boston, Merrill Lynch & Co., J.P. Morgan & Co. and Salomon Smith Barney have been allotted 5.225 million additional shares in the event of heavy demand.
AT&T Latin America's Class A shares will carry one vote while Class B shares, held by the AT&T parent, carry 10 votes each.
AT&T Latin America debuts
NameZero gets $25 million in funding
By Steve Gelsi, CBS.Marke****ch.com
Last Update: 10:11 AM ET Aug 29, 2000 NewsWatch
Latest headlines
NEW YORK (CBS.MW) -- AT&T Latin America's stock kicks off Tuesday, with 35 million shares hitting the Nasdaq following a merger between Ma Bell and FirstCom.
Although it's not an initial public offering, AT&T Latin America marks one of the few stock debuts in a quiet week ahead of Labor Day as the new issues market takes its traditional summer break.
Billed as the region's newest full-service telecommunications provider with operations in five Latin American countries, AT&T Latin America (ATTL: news, msgs) begins trading its Class A common shares on the Nasdaq.
FirstCom (FCLX: news, msgs) shares rose 15/16 to 17 11/16 on Monday.
Under the merger, FirstCom will get one share of AT&T Latin America Class A common stock for each share of FirstCom that they own. The swap got shareholder approval on Monday.
The Coral Gables, Fla.-based FirstCom provides broadband communications with fiber-optic networks in Argentina, Brazil, Chile, Peru and Colombia. Earlier this month it posted second-quarter revenue of $14.3 million, up from $9.8 million in the year-ago period.
But like the larger AT&T (T: news, msgs) unit ExciteAthome (ATHM: news, msgs), FirstCom isn't adding to the communication giant's profit. See full story.
FirstCom rang up a loss of $14.5 million, or 46 cents per share vs. a loss of $9.9 million, or 50 cents per share, last year.
"This merger is a key move in AT&T's strategic plan for Latin America," the companies said in a statement.
AT&T also bought Netstream in Brazil and Keytech LD in Argentina.
AT&T will own approximately 58 percent of AT&T Latin America in the form of Class B common shares; former FirstCom shareholders will own approximately 34 percent of the company; SL Participacoes, an affiliate of Promon, one of the leading engineering firms in Brazil and former owner of Netstream, will own approximately 7 percent and the former owners of Keytech LD will own slightly less than 1 percent.
FirstCom gets OK for AT&T Latin America deal
NEW YORK, Aug 28 (Reuters) - Latin American telephone company FirstCom Corp. (NasdaqSC:FCLX - news) said on Monday its shareholders approved a merger with AT&T Latin America Corp., clearing the way for the companies to close their deal later this week.
Shares of AT&T Latin America, a subsidiary of long-distance telephone company AT&T Corp. (NYSE:T - news), will begin trading on Nasdaq on Tuesday under the symbol ``ATTL.''
Under the merger plan, FirstCom shareholders will get one share of AT&T Latin America Class A common stock for each share of FirstCom common stock they own.
AT&T Latin America owns and operates high-speed fiber optic communications networks that are capable of carrying data, Internet, voice and video conferencing services. FirstCom provides telecommunications services in in Chile, Colombia and Peru.
FirstCom shares gained 1/2 to $17-1/4 on Nasdaq
Wednesday August 23, 5:21 pm Eastern Time
Press Release
FirstCom Corp. Adds Lehman Bros. Executive to Management Team
Mickey Schleien Named V.P. - Corporate Development and Acting CFO
MIAMI--(BUSINESS WIRE)--Aug. 23, 2000--FirstCom Corporation (Nasdaq:FCLX - news), an emerging next generation telecommunications carrier with facilities based fiber optic networks in Chile, Peru and Colombia which is in the process of merging with AT&T Latin America, has appointed Mickey M. Schleien, CFA, --formerly senior vice president at Lehman Brothers--as vice president, corporate development and acting CFO.
Schleien will be a key advisor to the senior executive team on merger and acquisition matters as well as on strategic planning and capital raising, and will report directly to FirstCom's chairman, president and CEO, Patricio Northland.
Schleien, a Bolivian native and U.S. citizen, has amassed extensive experience in the financial and communications sectors throughout the Latin American region during his tenure in some of the country's most respected investment banking organizations.
``I am very pleased to welcome Mickey into the FirstCom family as he brings the right combination of financial and communications sector experience at a critical time,'' stated Northland. ``His knowledge and understanding of both the U.S. financial markets and of the Latin American communications business, as well as proven strategic counsel, will help us to quickly identify and seize appropriate new opportunities, consistent with our growth strategy. ''
While at Lehman Brothers, Schleien covered the telecommunications service sector in Latin America where he evaluated telcos in the wireline, wireless, and data businesses to support the firm's institutional clients and investment banking activities. Here, he was instrumental in taking several noteworthy Latin American companies through their IPOs and other strategic transactions, including Telefonos de Mexico, Grupo Iusacell and Conecel, among others, as well as completing the bond offering for Brazil's Telesp.
Schleien also worked with Morgan Stanley and Union Bank of Switzerland. A Chartered Financial Analyst, Schleien holds an MBA in Finance from Loyola-Marymount University and a B.S. in Chemistry from University of California in Los Angeles.
About FirstCom Corporation
FirstCom Corporation operates as a publicly traded (NASDAQ: FCLX - news) competitive local exchange carrier in four major metropolitan business centers in Chile, Colombia and Peru. With annual revenues in 1999 of $38MM and approximately 650 employees at year-end, FirstCom owns and operates a technologically advanced, fiber optic IP/ATM backbone-network and provides a wide range of integrated communications services
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: The foregoing statements involve known and unknown risks and uncertainties that may cause AT&T Latin America and FirstCom's actual results or outcomes to be materially different from those anticipated and discussed in this press release. Except for historical information contained in this press release, the matters discussed contain forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors detailed in the definitive proxy statement described below, which readers are urged to read carefully in assessing the forward-looking statements contained herein. In connection with the FirstCom/AT&T Latin America merger, FirstCom has filed a definitive proxy statement and AT&T Latin America has filed a registration statement on Form S-4. We urge investors and security holders to read the definitive proxy statement and registration statement before they make a decision concerning the merger. Security holders may obtain a free copy of those documents and other documents filed by FirstCom Corporation at the SEC's web site at www.sec.gov <http://www.sec.gov>. In addition, documents filed with the SEC by FirstCom may also be obtained from FirstCom Corporation by directing such request to FirstCom Corporation, 220 Alhambra Circle, Coral Gables, Florida 33134, Attention: General Counsel, Thomas C. Canfield (305) 459-6300. The members of the board of directors of FirstCom Corporation are Patricio E. Northland, George Cargill, Andrew Hulsh and David Kleinman. As of the date hereof, there are no other ``participants in the solicitation,'' within the meaning of Rule 14a-12 under the Securities Exchange Act of 1934, as amended. Information concerning the directors is set forth in the Definitive Proxy Statement filed with the SEC. This announcement is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consent with respect to any Senior Notes.
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Contact:
FirstCom Corporation, Miami
Maria Pis-Dudot, 305/459-6362 (office)
mpis-dudot@firstcom-usa.com
or
Brainerd Communicators, New York
Leonardo Santiago, 212/986-6667 (office)
santiago@braincomm.com
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Thursday July 27, 11:02 am Eastern Time
Company Press Release
SOURCE: AT&T and FirstCom Corporation
Special Shareholder Meeting of FirstCom Corporation Set for August 28th for Vote on Merger With AT&T Latin America
FirstCom to Initiate Tender Offer for its Senior Notes
MIAMI, July 27 /PRNewswire/ -- AT&T Latin America Corp., a subsidiary of AT&T Corp. (NYSE: T - news), and FirstCom Corporation (Nasdaq: FCLX - news), which plan to merge, announced today that the registration statement filed by AT&T Latin America relating to the merger has been declared effective by the Securities and Exchange Commission and the FirstCom special shareholders' meeting to vote on their planned merger was set for August 28, 2000. FirstCom expects to mail the proxy statement on or around this Friday, July 28th. The parties have therefore extended the outside date under the merger agreement for completion of the merger to August 31, 2000.
``I would like to thank our shareholders for their patience throughout this process and welcome their support to become the initial public shareholders of AT&T Latin America,'' stated Patricio E. Northland, Chairman and CEO of FirstCom. ``Following approval of the merger by FirstCom shareholders and completion of the merger, each FirstCom common share will convert into a Class A common share of AT&T Latin America and trade on the NASDAQ National Market System under the symbol, ''ATTL``.
In connection with the merger, FirstCom will initiate a tender offer to the holders of its senior notes, subject to completion of the merger. The tender offer will be financed through the purchase by a subsidiary of AT&T Corp. of preferred stock in AT&T Latin America.
John Haigh, President of AT&T's International Ventures Organization stated, ``We have now leaped one of the final hurdles in the merger process. AT&T is very excited to have the FirstCom shareholders and its management join the AT&T Latin America team. Once we have closed the merger, AT&T Latin America can focus all of its energy and resources on executing its business plan and aggressively growing its operations in Latin America.''
About AT&T Corp.
AT&T Corp (www.att.com) is among the world's premier voice, video and data communications companies, serving more than 80 million customers, including consumers, businesses and government. With annual revenues of more than $62 billion and 147,000 employees, AT&T provides services to customers worldwide. Backed by the research and development capabilities of AT&T Labs, the company runs the world's largest, most sophisticated communications network and has one of the largest digital wireless networks in North America.
About FirstCom Corporation
FirstCom Corporation operates as a publicly traded (NASDAQ: FCLX - news) competitive local exchange carrier in four major metropolitan business centers in Chile, Colombia and Peru. With annual revenues in 1999 of $38MM and approximately 650 employees at year-end, FirstCom owns and operates a technologically advanced, fiber optic IP/ATM backbone-network and provides a wide range of integrated communications services.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: The foregoing statements involve known and unknown risks and uncertainties that may cause AT&T Latin America and FirstCom's actual results or outcomes to be materially different from those anticipated and discussed in this press release. Except for historical information contained in this press release, the matters discussed contain forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors detailed in the definitive proxy statement described below, which readers are urged to read carefully in assessing the forward-looking statements contained herein.
In connection with the FirstCom/AT&T Latin America merger, FirstCom has filed a definitive proxy statement and AT&T Latin America has filed a registration statement on Form S-4. We urge investors and security holders to read the definitive proxy statement and registration statement before they make a decision concerning the merger. Security holders may obtain a free copy of those documents and other documents filed by FirstCom Corporation at the SEC's web site at http://www.sec.gov. In addition, documents filed with the SEC by FirstCom may also be obtained from FirstCom Corporation by directing such request to FirstCom Corporation, 220 Alhambra Circle, Coral Gables, Florida 33134, Attention: General Counsel, Thomas C. Canfield (305) 459-6300.
The members of the board of directors of FirstCom Corporation are Patricio E. Northland, George Cargill, Andrew Hulsh and David Kleinman. As of the date hereof, there are no other ``participants in the solicitation,'' within the meaning of Rule 14a-12 under the Securities Exchange Act of 1934, as amended.
Information concerning the directors is set forth in the Definitive Proxy Statement filed with the SEC.
This announcement is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consent with respect to any Senior Notes.
(Logo: http://www.att.com/identity/library )
SOURCE: AT&T and FirstCom Corporation
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