The Corporate Group has recently acted for Interoute Telecommunications (UK) Limitedon:
the sale of its European retail and pre-paid card businesses its investment in Virtue Broadcasting Limited the disposal of Interoute Telecom Service Limited, First National Telecom Limited, Premier Telecom limited, Dial Telecom Limited, Iconnect (UK) Limited and Go Talk Limited
Albert Mackey, Interoute's European Managing Director, commented: "This network will set new standards in communications in Portugal. Using Ericsson's VoIP solution, we will bring next-generation services to Portuguese customers quickly and cost effectively. Today's announcement is further evidence of Interoute's drive to be recognised as Europe's leading alternative telecommunications group."
FNT Strategy First National Telecom’s strategic vision is to be the leading distribution company of prepaid telecoms products to the retail and consumer markets, within the UK. Its immediate objective is to strengthen and increase its existing position and dominance in the UK prepaid telephony market; in the medium term, its focus is on expanding and replicating its success in Europe.
Products & Services FNTS is one of the longest-established operators in the European calling card industry, with a commanding 30% share of the UK market (Frost & Sullivan, 2001). The company’s product portfolio includes the two leading UK calling card brands, First National and Go Bananas, and is expanding rapidly. This growth is remarkable, if not unique, in the current telecoms market for being achieved with no exposure to the debt market and with a positive cash-flow throughout the period.
FNTS’ UK and overseas residential telephony services, gotalk! and talkback! are showing similar growth. In February of this year the gotalk! brand acquired, through strategic partnerships, the Irish customer base of Yap!, Communica and Spirit, and plans are in hand for further expansion later this year.
Distribution The FNTS retail customer base includes more than 30,000 CTN retailers, together with multiples such as John Menzies and WH Smiths offering their own branded calling card. The company is also trialling its electronic retail terminals throughout the UK, providing top-up facilities to prepaid mobile phone users running on all four networks.
FNTS’ dedicated telecoms platforms currently process in excess of 30 million minutes a month.
Company History • 1997 First National Telecom Services formed • 1998 June Purchased by Interoute Group • 2001 May Interoute Residential and Retail Divisions sold to FNTS
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This suggests that 1) Albert Mackey was and possibly still is an employee of Interoute, 2) that Interoute did purchase FNT in June 1998, and 3) that Interoute is selling FNT.
ATC Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
