Media Centre
Uecomm Sells Stake in People Telecom
Uecomm Limited today announced that it has sold its shareholding in voice reseller People Telecom Limited. Uecomm will receive $1.45 million for the sale of its 15% shareholding. Uecomm wrote down the value of its People Telecom holding to $1 million in December 2001.
The services agreement with People Telecom which was announced at the time of the share acquisition will be replaced by the provision of services to People Telecom at no cost to Uecomm up to a maximum of $500,000 over two years.
