TUCSON, Ariz., May 4 /PRNewswire/ -- Wavetech International, Inc.
(Nasdaq: ITEL) today announced that it will not be merging with DCI
Telecommunications, Inc. (OTC Bulletin Board: DCTC). Wavetech terminated the
Merger Agreement with DCI pursuant to its terms because Wavetech had
determined that it was not reasonably likely that the conditions to the merger
would be satisfied prior to the expiration of the Merger Agreement.
Trading in Wavetech's Common Stock on the Nasdaq SmallCap Market was
temporarily halted yesterday by The Nasdaq Stock Watch Department for news
pending. In addition, the SEC suspended trading in DCI's stock through
May 14, 1999.
This press release contains certain forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. This information may involve risks and uncertainties that
could cause actual results to differ materially from such forward-looking
statements. Factors that would cause or contribute to such differences
include, but are not limited to the uncertainty of the Company's ability to
satisfy the conditions to the continued listing of its Common Stock on The
Nasdaq SmallCap Market, and other factors detailed by Wavetech in its filings
with the Securities and Exchange Commission.
SOURCE Wavetech International, Inc.
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Related links:
http://www.interpretel.com
Company News On-Call:
http://www.prnewswire.com/comp/111429.html or fax,
800-758-5804, ext. 111429
CONTACT:
Richard Freeman, Investor Relations of
Wavetech International, Inc., 520-750-9093, ext. 203
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