CALL-NET BIDS FOR FONOROLA
By Adnews Staff
Toronto-based Sprint Canada just might be getting bigger after its parent company, Call-Net Enterprises of Toronto, made a $1.6 billion takeover bid for Fonorola Inc. of Montreal. If Call-Net buys Fonorola, it will become Canada's second largest long distance provider, behind BCE Inc., Bell Canada's parent. The combined company would have annual sales of $1.32 billion and 1.35 million subscribers, based on 1997 numbers. Advertising for Sprint is done by Grey Advertising of Toronto. Fonorola's advertising is handled by Allard Communications of Montreal. Call-Net wants to purchase Fonorola because it has a strong business market, something Sprint doesn't have. Fonorola will be looking at the offer next week.
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