PJT Project Telecom

RNS Number:2257U
Project Telecom PLC
9 April 2002

PRESS RELEASE



Project Telecom acquires TW Telecom


TUESDAY, 9 April 2002 - Project Telecom plc, a leading independent provider of
wireless voice and data services to the UK corporate sector, has acquired
Manchester-based TW Telecom Limited.


TW Telecom is a telecom service provider to the Greater Manchester business
market and has approximately 15,000 subscribers under management.  TW Telecom's
customers are predominantly on the Vodafone and Cellnet networks and include
Airtours, ERF, Manchester Airport, Manchester City Council, the Metropolitan
Borough Councils of Bolton, Bury and Stockport, and UCI Logistics. Turnover for
the year ended 31 December 2001 was £7.8 million.


Tim Radford, Project Telecom's Chief Executive, said: "The purchase of TW
Telecom follows the successful integration of the Hutchison and Netnet
acquisitions in 2001. It is in line with our strategy of expanding our corporate
customer base and extending our geographic reach through organic growth and
selected acquisitions.  Greater Manchester, with its thriving business
community, represents a significant opportunity for Project Telecom.  The
integration of TW Telecom will enable us to accelerate our growth in this
important market."


The acquisition was completed for a cash consideration on 8 April 2002.
Following completion, TW Telecom's office will become Project Telecom's sales
and customer service base for the Greater Manchester area, with the
administration and billing functions being transferred to Project Telecom's head
office in Newark.

-ENDS-



For further information contact:


Tim Radford - Chief Executive
Project Telecom plc
Mobile: 07831 642911



Simon Bloomfield
Bankside Consultants
Tel: 020 7444 4177
Mobile: 07771 758517





                      This information is provided by RNS
            The company news service from the London Stock Exchange

Project Telecom (LSE:PJT)
Historical Stock Chart
From Nov 2024 to Dec 2024

Project Telecom (LSE:PJT)
Historical Stock Chart
From Dec 2023 to Dec 2024