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Client Work

SR Telecom sells its Chilean subsidiary Comunicación y Telefonía rural S.A.

Fasken
Reading Time 1 minute read
Client

SR Telecom

On February 1st, 2007, SR Telecom announced the sale of its Chilean subsidiary, telecommunications service provider Comunicación y Telefonía rural S.A.(CTR), to integrated telecom service provider Chile.com. This transaction permits SR Telecom to be fully released from all of its obligations with respect to CTR, including liabilities in respect of loans to CTR amounting to approximately US$29 million and allows SR Telecom to focus on its WiMAX strategy. SR Telecom, listed on the TSX, is a recognized global leader in delivering innovative broadband wireless access solutions (BWA) and is the only BWA vendor with extensive real-world expertise in deploying the advanced features of the WiMAX standard. SR Telecom Inc., with respect to the Canadian aspects of the transaction, and with respect to negociations with the lenders to CTR was represented by Fasken Martineau with a team that included Peter Villani, Chloé Archambault and Alain Riendeau.