Acquisition of Chinese VoIP Company

Crawford Lake Mining announced it has purchased 100% ownership of Jinan Yinquan Technology Co. Ltd, (‘Jinan”), a telecommunications technology company located in the Shandong Province of the People’s Republic of China, in exchange for 40,000,000 restricted shares of Crawford Lake common stock.

“This acquisition and expansion into the technology industry signifies our first effort in developing an international, high-tech business strategy for our Company,” said Li Kunwu, President and CEO of Crawford Lake. “Jinan Yinquan is a very aggressive company that now offers Voice over the Internet Protocol (“VoIP”) services to 17 cities in the Shandong Province. The current population in China is estimated at 1.3 billion people. The market potential for their state of the art NP Soft Switch System made this acquisition a very promising venture for us and our shareholders.”
Posted on Nov 13, 2006  Reviews | Share |  Digg
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Justice Dept Approves AT&T-BellSouth Merger

The United States Department of Justice (DOJ) today cleared AT&T's merger with BellSouth. AT&T General Counsel James D. Ellis announced, "This unequivocal and unconditional approval underscores the competitive nature of our industry and the pro-competitive benefits of this merger. AT&T is focused on bringing more video choices and next-generation broadband services to as many consumers as possible and our merger with BellSouth will help deliver these benefits to more consumers, more quickly".

Meanwhile, the Competition Coalition, an organization concerned about the remonopolization of the old Ma Bell telephone network, held different throughts, "Unfortunately, by endorsing the largest telecommunications merger in history, the DoJ ignored the interests of consumers and the valid concerns raised by many experts and organizations that the reconstitution of Ma Bell will lead to higher prices, job cuts, violations of customer privacy, and a widening of the digital divide. AT&T, with the help of a complicit government, is poised to control nearly half of the nation’s phone lines, and will also be the largest wireless and broadband Internet company in the country."
Posted on Oct 11, 2006  Reviews | Share |  Digg
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