20th Jul 2005 11:59
Cesky Telecom A.S.20 July 2005 ANNOUNCEMENT - 20. 7. 2005 CZECH SECURITIES COMMISSION APPROVES TELEFONICA'S MANDATORY TENDER OFFER TOMINORITY SHAREHOLDERS OF CESKY TELECOM, a.s. Today, 20th July 2005, the Czech Securities Commission approved Telefonica'smandatory tender offer addressed to 48.9% of CESKY TELECOM's shareholders forCZK 456 per share. The Commission stated that both the tender offer and theproposed purchase price comply fully with the laws of the Czech Republic. Theadequacy of the purchase price is documented by an expert opinion, whichindicates that the price offered by Telefonica, S.A. is higher than the value ofshares in CESKY TELECOM, a.s. prior to Telefonica acquiring the control stake inCESKY TELECOM, as required by law. Such opinion was also reviewed by theCommission. The tender offer must be published within 3 weeks following approval by theCommission. Investor RelationsCESKY TELECOM, a.s.tel: 271 462 120fax: 271 469 825e-mail: [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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