AGREED TENDER OFFER FOR UP TO 21.7% OF JAPAN TELECOM
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Additional details of the Offer |
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Following the acquisition by VIHBV of up to 21.7% of JAPAN TELECOM's outstanding shares, the Vodafone Group's holding in JAPAN TELECOM will increase from 45% to a controlling level of up to 66.7%. Furthermore, the Vodafone Group's economic interest in JAPAN TELECOM's wireless business (the "J-Phone Group") will increase from approximately 60% to up to 69.7%.
The Vodafone Group intends to preserve the Japanese character of JAPAN TELECOM and to maintain its public listings on the Tokyo Stock Exchange and Osaka Securities Exchange with a substantial minority of its shares held by the public. The Vodafone Group does not intend to acquire additional shares in JAPAN TELECOM beyond a 66.7% holding.
The Nomura Securities Co., Ltd. ("Nomura Securities") and UBS Warburg (Japan) Ltd ("UBS Warburg") ("the Tender Offer Agents") are acting as joint tender offer agents. JAPAN TELECOM shareholders wishing to accept VIHBV's offer for their shares should contact any branch of Nomura Securities or UBS Warburg in Japan for further information.
The Offer will commence on Friday 21 September 2001 and, unless extended, will remain open for acceptances until the close of business at the offices of the Tender Offer Agents in Japan on Thursday 11 October 2001. Completion of the Offer is expected on Friday 26 October 2001. |
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