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July 28, 1988

THE FOURTH LARGEST LONG-DISTANCE PHONE COMPANY IN THE US

By CBR Staff Writer

The fourth largest long-distance phone company in the US is to be formed by the mergeb of SouthernNet Inc, Atlanta, and Teleconnect Inc, Cedar Rapids, Iowa, to be effected by distributing one new share for each one held to the holders of each company, leaving SouthernNet holders with 52%: the group will have combined turnover of $490m this year, serving 400,000 customers, but each will continue to use its own name in its region – SouthernNet in 10 southeastern states, Teleconnect in 21 midwest states.

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