First Capital International, Inc. Terminates Acquisition of TGK-LINK AS.
Published:
25 July 1999 y., Sunday
First Capital International, Inc. announced that the Acquisition Agreement between First Capital International and TGK-Link AS has been terminated. However, both companies decided to enter into a Cooperation Agreement and continue joint activities in the Baltic Region. TGK-LINK AS is an Estonian company primarily involved in the Telecommunications/Internet related business serving the Ex-Soviet Union and the growing, Baltic Region Marketplace. Currently, TGK-Link AS provides Telecommunication services to the local major Banks, as well as, they are the authorized representative of SPRINT U.S.A. in Estonia, as a direct distributor of the ``Global One' services in the Region. That decision to terminate the acquisition was based on the fact that TGK-Link_s current business contract with it_s partner SPRINT U.S.A. needs to be renegotiated within the next six months and, therefore both parties agreed it was in each ones best interests to terminate the acquisition to avoid any uncertainties related to this issue.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Bank DnB NORD A/S increasing its holdings in its Lithuanian subsidiary to 99.84 percent through acquisition of shares from minority shareholders.
more »
AB Bank SNORAS will grant LTL 35 million for financing the small and medium businesses on the exclusive conditions.
more »
Rejecting survival plans from both General Motors and Chrysler, President Barack Obama warned the ailing US automakers they could be forced into bankruptcy if they don't find a way to slash their debt.
more »
Prevailing wisdom says when the going gets tough the weary go drinking. The demand for beer exceeds the demand for all other alcoholic beverages in USA.
more »
Things have been moving slowly for Swiss watchmakers in recent months. The global economic downturn has hit the country's third most important industry hard.
more »
The move came a day before the U.S. government was due to outline new steps to help GM and Chrysler as part of the federal bailout.
more »
With the European year of creativity and innovation in full swing, leading figures warn against cutting back on research and development in times of crisis.
more »
Wall Street has been looking for signs of a bullish comeback, and today's surprise news on the economic front revived a buying spree... started by Monday's 7% rally.
more »
With the economic crisis eating away at public finances, budget deficits in five countries are expected to exceed the 3% of gross domestic product allowed by the EU.
more »
China is calling for a new global currency to replace the dominant dollar, showing a growing assertiveness on revamping the world economy ahead of next week's London summit on the financial crisis.
more »