Cabletel Mulling Over Bids

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Cabletel Communications Corp. said Tuesday that it has received a number of proposals in response to its previously announced solicitation of bids for the possible sale of the company and/or any of its subsidiary companies.

The Canadian broadband-equipment distributor also announced that it has received confirmation from its senior secured lender -- LaSalle Business Credit, a division of ABN AMRO Canada N.V., Canadian Branch -- that the lender will not take any immediate action against Cabletel while it evaluates and determines what action to take with respect to bids received for it and its assets.

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