IDT Corporation's Discussions With ITXC Terminated |
NEWARK, NJ, May 20, 2003 - IDT Corporation (NYSE: IDT, IDT.C) today announced that the previously announced formal discussions with ITXC Corp. (NASDAQ: ITXC) have terminated today, and no agreement has been reached.
IDT Corporation, through its IDT Telecom, Inc. subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to its retail and wholesale customers worldwide. IDT Telecom, by means of its own national telecommunications backbone and fiber optic network infrastructure, provides its customers with integrated and competitively priced international and domestic long distance telephony and prepaid calling cards. IDT and Liberty Media Corporation own 95% and 5% of IDT Telecom, respectively. IDT Media, Inc. is the IDT subsidiary principally responsible for the Company's initiatives in media, new video technologies and print media. IDT Solutions, formerly Winstar, provides broadband and telephony services to commercial and governmental customers through a fixed-wireless and fiber infrastructure. Net2Phone, Inc. is a leading provider of high-quality global retail Voice over IP services, either directly or via a partner.
We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.
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May 20, 2003 |
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