JAN 22, 2008 - 13:09 ET
TORONTO, ONTARIO--(Marketwire - Jan. 22, 2008) - Toronto Hydro Corporation announced today that it intends to solicit expressions of interest from third parties with respect to a possible sale by Toronto Hydro Corporation of its wholly-owned subsidiary Toronto Hydro Telecom Inc. which provides fibre optic cable capacity and data communications services to telecommunications carriers, business customers and large institutions in the City of Toronto. There can be no assurance that this process will result in the completion of a transaction.
About Toronto Hydro
Toronto Hydro Corporation is a holding company which through its wholly-owned subsidiaries:
- Toronto Hydro-Electric System Limited ("LDC") - distributes electricity;
- Toronto Hydro Energy Services Inc. - provides street lighting and expressway lighting services, and energy efficiency products and services; and
- Toronto Hydro Telecom Inc. - provides fibre optic cable capacity and manages data communications services.
The principal business of Toronto Hydro Corporation is the distribution of electricity by LDC. LDC owns and operates an electricity distribution system that delivers electricity to approximately 678,000 customers located in the City of Toronto.
Certain portions of this press release may constitute forward-looking information. Forward-looking information means disclosure regarding possible events, conditions or results that is based on assumptions about future economic conditions and courses of action or attributable to third parties. In some cases, forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "anticipate", "believe", "estimate", "predict", "potential", "continue", "plan" and similar expressions or the negative of these terms or other comparable terminology. Although the corporation believes that it has a reasonable basis for the forward-looking information included in the press release, such information is subject to a number of risks, uncertainties and assumptions, that may cause actual events, conditions or results to differ materially from those contemplated by the forward-looking information. Some of the factors that could cause such differences include legislative or regulatory developments; financial market conditions, general economic conditions and the ratings assigned to the corporation or its affiliates or their debt securities by rating agencies. The corporation has no obligation nor any intention to update publicly or to revise any of the forward-looking information included in the press release after the date thereof, whether as a result of new information, future events or circumstances or otherwise.
FOR FURTHER INFORMATION PLEASE CONTACT:
Toronto Hydro Corporation
Vice-President, Communications and Public Affairs
Toronto Hydro Corporation
VP, Treasurer and Regulatory Affairs