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[QUOTE]Originally posted by Edster1: [QB] GlobeTel Commun In JV Pact With VPN de Mexico SALast update: 3/8/2007 7:57:54 AM DOW JONES NEWSWIRES GlobeTel Communications Corp. (GTEM) disclosed Thursday that it has entered a joint venture agreement with VPN de Mexico SA de CV. The Florida-based developer of telecommunications products and services said in a filing with the U.S. Securities and Exchange Commission that the agreement calls for the creation of a joint-venture company to be owned 51% by VPN and 49% by GlobeTel. The purpose of the joint venture is to install and operate wireless broadband networks using GlobeTel's HotZone 4010 wireless base station. The parties had originally entered into a test network installation pact last June under which GlobeTel installed a network in the Mexican city of Pachuca. Following the acceptance of that network by VPN the parties negotiated and entered into the joint venture agreement. [/QB][/QUOTE]
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