TELSCAPE INTERNATIONAL, INC. AND POINTE COMMUNICATIONS CORPORATION
ANNOUNCE COMPLETION OF MERGER
Business Wire - June 05, 2000 12:35
ATLANTA--(BUSINESS WIRE)--June 5, 2000--Telscape International, Inc. (NASDAQ:
TSCPD) ("Telscape") and Pointe Communications Corporation (NASDAQ OTC BB: PCOM)
("PointeCom") today jointly announced the completion of the merger of the two
companies. According to the terms of the merger, which is an all stock
transaction, each share of PointeCom will be exchanged for .223514 shares of
Telscape common stock. The surviving company, Telscape, will commence trading on
Monday, June 5, 2000, under the ticker symbol "TSCPD" for a period of twenty
(20) trading days. Following the completion of this twenty day period, the
symbol shall revert to "TSCP". Common shares of Telscape shall continue to be
traded on the NASDAQ National Market System. Telscape will be headquartered in
Atlanta, Georgia.
Telscape International, Inc. is a U.S.-based, fully integrated communications
company. The Company, combined with the acquisition of Pointe Communications
Corporation, supplies CLEC, video, data, prepaid calling and Internet services
between Latin America and Hispanic communities throughout the United States.
Telscape has built and is currently implementing the operation of a
state-of-the-art fiber optic network in Mexico that will reach the vast majority
of the Mexican population. The Company also owns and operates satellite teleport
facilities in Silicon Valley, Houston, Panama, Costa Rica, Venezuela, Nicaragua
and El Salvador, which deliver an array of communications services to customers
throughout North, Central and South America. In addition, the Company provides a
full range of network solutions services and products in Mexico to major public
and private sector customers. Telscape's corporate headquarters are located in
Atlanta, Georgia.
Note: Certain statements made herein that are not historical are forward-looking
within the meaning of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that all forward-looking statements involve risks and
uncertainties including, without limitation, risks related to market acceptance
of and demand for the Company's products and services by customers, continued
relationships with and pricing dependence for third party suppliers, and
continuity of existing government regulations and policies. Statements with
respect to acquisitions and continued trends are forward-looking and involve
risks and uncertainties. Furthermore, the Company has significant operations in
Mexico, subjecting the Company to certain political and commercial risk.
CONTACT: Pointe Communications Corporation
Stephen E. Raville, Chairman/CEO
770/432-6800
or
Strategic Growth International, Inc.
Richard Cooper/Rob Schatz
516/829-7111
<PAGE>
