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?


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

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.”