BCE Cease Long-Term Funding to Teleglobe

It says here that BCE — which, among other things, owns [indirectly] Island Tel, The Globe and Mail and CTV — has “cease[d] further long-term funding to Teleglobe Inc.”.

I have no idea what this means, but I have a hunch it means that all is not well in the Kingdom of Teleglobe.

I’ve never been entirely sure what Teleglobe actually does. I know that they own the trademark for Canada Direct, a service which allows Canadians to call long distance from foreign countries using a Canadian operator. And I have some vague memory that they might be responsible for all international calling from Canada too, but I’m not sure about this.

Can anyone fill in the blanks?

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Christopher Ogg's picture
Christopher Ogg on April 24, 2002 - 18:03

Well, it’s not totally unrelated to this announcement: “The Board of Directors of BCE today announced that they have accepted the resignation tendered by Jean C. Monty as Chairman and Chief Executive Officer of the Corporation, effective immediately.”

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