XFONE, an international communications services company, has completed its acquisition and increased its holding in Story Telecom from 69.6 percent to 100 percent.

XFONE paid $540,000 for the additional 30.4 percent of Story Telecom and the transaction is being financed from internal cash resources.

XFONE is an international voice, video and data communications services provider with operations in the United Kingdom, the United States and Israel and offers a wide range of services, which include: local, long distance and international telephony services; video; prepaid and postpaid calling cards; cellular services; Internet services; messaging services; and reselling opportunities.

Story Telecom, a telecommunications service provider, operates as a division of XFONE in the United Kingdom and was founded in 2002.

The company offers a recognized brand name in the U.K. market and a wide range of price competitive, innovative and easy to use products for ethnic customers making international calls from their mobile phones.

Story Telecom will now be a wholly-owned subsidiary of XFONE’s operation in the UK, which currently consists of three other wholly-owned subsidiaries: Swifnet, Equitalk and Auracall.


Anil Sharma is a contributing editor for TMCnet. To see more of his articles, please visit his columnist page.

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