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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C., 20549
_____________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
_______________________
Date of Report (Date of
Earliest event reported): April 13, 1998
OPTEL, INC.
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(Exact name of registrant as specified in its charter)
Delaware 95-4495524
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(State or other jurisdiction (I.R.S. Employer Identification
of incorporation or organization) Number)
333-24881
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(Commission File Number)
1111 West Mockingbird Lane, Suite 1000, Dallas, Texas 75247
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (214) 634-3800
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ITEM 5. OTHER MATERIALLY IMPORTANT EVENTS
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On April 13, 1998, the Registrant issued the press releases attached hereto
as Exhibit "A" announcing Registrant's the initial closing of the purchase of
assets from Interactive Cable Systems, Inc.
ITEM 7. EXHIBITS
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Press Release, dated April 13, 1998.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: April 17, 1998
OpTel, Inc.
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(Registrant)
By: /s/ BERTRAND BLANCHETTE
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Name: Bertrand Blanchette
Title: Chief Financial Officer
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EXHIBIT INDEX
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Exhibit
No. Description Page No.
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20 Press Release, dated April 13, 1998
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EXHIBIT 20
[LOGO OF OPTEL APPEARS HERE] [LOGO OF ICS APPEARS HERE]
OPTEL AND ICS COMPLETE FIRST PHASE OF ACQUISITION BY OPTEL OF
PRIVATE CABLE AND TELEPHONE UNITS
When completed, purchase will bring OpTel to over 500,000 units under contract.
DALLAS (APRIL 13, 1998) -- OpTel, Inc. and Interactive Cable Systems, Inc. (ICS)
announced today that they had completed the initial closing under the previously
announced purchase by OpTel of ICS's private cable and telephone operations in
Houston, Dallas/Fort Worth, San Diego, Phoenix, Chicago, Denver, San Francisco,
Los Angeles, Miami/Ft. Lauderdale, Tampa, Atlanta, Orlando, Indianapolis and
greater Washington, D.C.
The initial closing represented approximately 60% of the 90,000 cable and phone
units under contract comprising the overall purchase.
Louis Brunel, OpTel's President and Chief Executive Officer said, "This major
strategic acquisition reinforces OpTel as the preeminent leader in the private
cable and telecommunications industry. It greatly strengthens our presence
and profitability in existing OpTel markets and brings us into new markets,
Atlanta, Indianapolis and Orlando, on an efficient scale of operations. We are
very pleased to welcome ICS, and through it ICS's investors and shareholders, as
investors in OpTel."
Kevin Schottlaender, ICS's President and Chief Executive Officer, said: "ICS was
very pleased to combine our business with OpTel's in the MDU markets we mutually
serve, creating significant economies of scale that will benefit building owners
and residents."
Messrs. Brunel and Schottlaender noted that they expect the remainder of the
transaction to be completed in the near future.
Interactive Cable Systems, Inc. (ICS) is the nation's third largest private
telecommunications and video services provider to the multi dwelling unit
housing industry. Headquartered in Richardson, Texas, ICS serves in 20+ markets
throughout the United States.
OpTel is the largest private cable operator in the United States. The Company
provides cable television service and telecommunications services to residents
of multi-dwelling unit (MDU) complexes principally under long-term contracts
with MDU owners in thirteen markets (Houston, Dallas/Fort Worth, San Diego,
Phoenix, Chicago, Denver, San Francisco, Los Angeles, Miami/Ft. Lauderdale,
Atlanta, Indianapolis, Tampa and Orlando). OpTel is majority owned by Le Groupe
Videotron Ltee, owner of the second largest cable television operator in Canada.
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For further information contact:
OpTel ICS
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Stephen Dube Kevin Schottlaender
(214) 634-3856 (972) 669-6200
