STENTOR, the new Irish telecommunications company, has signed its first network carrier agreement with a subsidiary of the US Cable Corporation, USFI.
The company, which is listed on London's Alternative Investment Market, said yesterday it had reached agreement with USFI to share its telecommunications facilities across the North Atlantic to New York.
The agreement also gives it access to MCI's Global Network, according to Stentor director, Mr Patrick Cruise O'Brien.
Stentor, which was granted a licence by the Department of Communications last year, expects to start operating its long distance phone service to Irish companies next month.
It intends to join Esat Telecom, Cable & Wireless and TCL in offering long distance phone services in competition with Telecom Eireann.
The new agreement, Mr Cruise O'Brien said, will allow it to carry calls to the US on its own network. Stentor has said that it expects to have up to 50 customers on its books by the end of the year.
Stentor raised £3.8 million through the placing of 5.2 million shares in London in April. The shares, which were initially offered at 75p, yesterday traded at 147p. Almost 65 per cent of the £3.8 million raised came from financial institutions in Europe.
