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PageNet do Brasil liquidates; offers 10 cents on dollar

NEW YORK-Scant profits in the one-way paging industry forced the board of directors of PageNet do Brasil to liquidate the company. They plan to offer a return of 10 cents on the dollar to shareholders.

In a release from the company, the directors said PageNet’s current business couldn’t support its indebtedness, which was caused by a diminishing subscriber base and declining technology.

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