Tele2, Versatel Telecom International and funds advised by Apax Partners (Apax) announce that a final agreement has been reached on a recommended offer by Tele2 for all the issued and outstanding ordinary shares and a recommended offer by Tele2 for all the issued and outstanding 3.875 percent convertible senior notes due 2011 convertible into ordinary shares in the capital of Versatel. The acceptance period for the offers begins on 14 September and will end at 15:00 hours Amsterdam time on 7 October, unless extended; a cash amount of EUR 2.20 per share will be paid to shareholders tendering their shares; bondholders will be paid a cash amount of EUR 132,273.61 per bond, which amount includes an incentive fee of 0.30 per cent of the principal amount of the bond; the conditions to the offers include an acceptance level for the shares of at least 95 percent and at least 85 percent for the bonds. Tele2 reserves the right to waive one or more of the subject to the offers being declared unconditional, Tele2 intends, in consultation with Euronext, to de-list the Shares and Bonds from Eurolist by Euronext Amsterdam; the supervisory board and the management board of Versatel have concluded that the offers are in the best interests of Versatel, its shareholders, bondholders and other stakeholders, and unanimously recommend that shareholders and bondholders accept the offers; Talpa Capital has irrevocably undertaken to tender all shares held by it under offer. This is in respect of approximately 42 per cent of the total issued and outstanding share; at 10:00 hours, Amsterdam time, on 29 September, Versatel will convene an extraordinary general meeting of shareholders to discuss the offers.
