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Verizon Wireless Boosts Network Capacity and NTL Announces Intention to Refinance GBP25 May 2006
Wireless Communication industry news provided by Financial News USA (OTC: FNWU). Verizon Wireless, a joint venture of Verizon Communications and Vodafone (NYSE:VOD), revved up its network capacity during the Indy 500 by upgrading area cell sites that provide service to the Indianapolis Motor Speedway and surrounding area. The upgrades will enable more customers to use their wireless phones concurrently to make calls, send and receive text and picture messages, and download games and ringtones. Open Joint Stock Company "Vimpel-Communications" (NYSE: VIP) recently announced the completion of the issuance of an aggregate principal amount of US$600,000,000 of new loan participation notes (the "New Notes") in the international bond markets. The New Notes were issued by, but without recourse to, UBS (Luxembourg) S.A. (the "Bank") for the sole purpose of funding a loan to VimpelCom in a principal amount equal to the aggregate principal amount of the New Notes.
NTL Incorporated (NASDAQ: NTLI) recently announced its intention to refinance its GBP 1.8 billion bridge facility with an alternative financing structure involving new indebtedness of its UK group. The bridge facility was incurred in connection with NTL's reverse acquisition of Telewest, which closed on 3 March 2006. NTL anticipates that the bridge facility will be refinanced through an additional tranche of senior debt of its subsidiary, NTL Investment Holdings Limited, and a bond offering by its subsidiary, NTL Cable plc. Diamond I, Inc. (OTC BB:DMOI), a developer of wireless gaming products, including the WifiCasino GS(TM) wireless hand-held gaming system, recently announced that it has entered into a definitive agreement to acquire Touchdev Limited. The acquisition is being made solely for Diamond I stock and is expected to close in the very near future. Diamond I, Inc. (OTC BB:DMOI), a developer of wireless gaming products, including the WifiCasino GS(TM) wireless hand-held gaming system, recently announced that it has entered into a definitive agreement to acquire Touchdev Limited. The acquisition is being made solely for Diamond I stock and is expected to close in the very near future.
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