AT&T Canada announced new commercial agreements with AT&T Corp. defining how the companies will serve customers as AT&T Canada transitions to a fully independent and re-branded company. AT&T Canada will launch a new brand name by September 9, 2003. The deal also enables AT&T Canada and AT&T Corp. to continue working together on a non-exclusive basis, maintains network ties between the two companies, recognizes AT&T Corp.'s ability to serve Canadian customers directly (including by competing with AT&T Canada), and provides AT&T Canada the ability to forge additional supplier relationships. AT&T Canada also noted progress in its ongoing bankruptcy case. The Ontario Superior Court of Justice issued an order to disseminate to shareholders the details of a capital restructuring plan under which the company's outstanding public debt would be exchanged for 100% of the new equity of AT&T Canada and a minimum of $200 million in cash. The company hopes to complete the capital restructuring at the end of the first quarter of 2003.
http://www.attcanada.com
- AT&T Canada provides a full range of integrated services over its 18,700 route kilometers of local and long haul fiber.
- As of 15-Ocober-2002, AT&T Canada reported $4.5 billion of outstanding public debt.
