PACIFIC CABLE.
Canada To Relinquish Her Interest For Cash. UNDER MERGER AGREEMENT. (Australian ><ni] S.Z Press Association.) (Received 2 p.m.) OTTAWA, July 20. The relinquishing by Canada of all interest in tho Pacific cable is a major provision of the cable-wireless merger recently negotiated in England. Details of the merger will be announced simultaneously in London and Ottawa probably on Monday. Canada is to receive a generous cash consideration. It is understood that the proposition was eagerly accepted by Canada, as there was no prospect of profit. Other provisions of the merger affecting Canada have not been disclosed.
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Bibliographic details
Auckland Star, Volume LIX, Issue 171, 21 July 1928, Page 9
Word Count
98PACIFIC CABLE. Auckland Star, Volume LIX, Issue 171, 21 July 1928, Page 9
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