17th Feb 2009 14:44
BT OPENS PUBLIC OFFER OVER REMAINING NET2S SHARES
Following its announcement on 27 January 2009 of the filing of a draft buyout offer with the Autorité des marchés financiers ("AMF") in France to purchase the remaining c.2.19% in Net2S S.A. ("Net2S") that BT Group plc ("BT") does not currently own, BT announces that it has gained AMF approval to launch the buyout offer and that the buyout offer period opens today for a period of 10 trading days.
The offer will be at an offer price of €5.27 per share, payable in cash from BT's existing resources, and amounts to a maximum potential consideration of approximately €1.83m. The public offer will be followed immediately by a compulsory acquisition of any outstanding Net2S shares not owned by BT at that time.
The joint information note and copies of the two documents presenting the main legal, accounting and financial information of Net2S and BT are available on the website of the French Market Authority (www.amf-france.org), as well as on the web sites of BT (www.btplc.com) and Net2S (www. net2s.com).
Related Shares:
BT