Ireland
Esat Telecom Group plc confirmed it accepted an offer to acquire a pro rata share of 9
percent of Ireland’s Global System for Mobile communications cellular operator, Esat Digifone, at a cost of $57 million
from International Investment and Underwriting Ltd. Esat Telecom Group said it has a 45-percent shareholding in Esat
Digifone and upon completion of the transaction, the Group will hold 49.5 percent.
China
Hongkong Telecom
announced it has acquired the Internet business of First International Computer of Taiwan in a move designed to
expand its Internet presence in Asia. Hongkong Telecom said it acquired an 85-percent stake in FIC Network Service
Inc., a subsidiary of First International Computer, with the remaining 15 percent held by First International computer
and other Taiwanese shareholders. The company also announced plans to build Hong Kong into Asia’s preferred
Internet hub and e-commerce center through several initiatives.
Taiwan
Glenayre Technologies Inc. announced
it has shipped the majority of an $8.3 million order from the Long Distance and Mobile Business Group of Chunghwa
Telecom in Taiwan. The order was for a FLEX paging network LDM plans to use to expand its system, the company
said.
Israel
Nexus Telocation Systems Ltd. signed a settlement agreement with API Merger Corp., formerly
American Paging Inc. According to the agreement, all claims of each company against the other, including those that
were formerly in litigation and any that could have been brought in the future, have been resolved, waived or canceled.
In connection with the agreement, Nexus must issue 216,216 restricted shares of the company to an affiliate of API. A
1993 joint venture agreement between Nexus and American Paging is canceled. All of API’s rights in the Nexus system
are terminated and Nexus can market its products in the United states and worldwide without restrictions, said Nexus.
Nexus develops and manufactures low-energy wireless communications and location systems through digital spread
spectrum technologies.
