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Voice Tel Enterprises Inc

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February 26, 1997 | From Times Staff and Wire Reports
Centigram Communications Corp. said it has dropped plans to acquire closely held Voice-Tel Enterprises Inc., after a decline in its stock. The San Jose-based provider of messaging systems agreed in October to issue 2.3 million shares of stock, then worth about $34.5 million, for Voice-Tel, a provider of voice messaging services. Since then, Centigram shares have skidded about 19% on lower-than-expected earnings, reducing the value of the transaction to Voice-Tel's owners.
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