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Emvelco Corporation Message Board

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  • stockmaster_9999 stockmaster_9999 Jan 13, 1999 1:51 PM Flag

    PCBM---KANA

    Surely they can hope to retain control in a 2/3
    director
    count. Why have they sold out 51%, tis gives Pantel
    control,
    If you look at the hungarian web site, it mentions
    Pantel as
    now being the majority owner.

    What
    bits did Euroweb Int sell, or is it still the same
    company
    with Pantel owning 51% of the stock.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • EWEB sold 51% of its internet operations to a
      partnership (the sharing of profits) with PanTel, and its
      called Euroweb RT, a PanTel co. Also sold 51% of its
      internet revenues, and 51% of its expenses.

      In
      return, EWEB gets $2.2M in cash, and PanTel fronts
      $300,000.00 to run the operation.

      EWEB hopes PanTel
      will funnel huge business growth its way as a result
      of the deal.

      EWEB will be able to offer
      customers ATT/Unisource services as a result of the deal.
      All over state-of-the-art fiber-optic
      network.

      EWEB in the deal went from a loner to cash rich, no
      debt, quality ISP, with nothing but good ahead in its
      future.

 

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