RIO DE JANEIRO, Nov. 12,
2013 /PRNewswire/ -- Empresa Brasileira de Telecomunicacoes S.A. —
Embratel (Embratel) and Embratel Participacoes S.A. (Embrapar)
(together, the "Offerors") announced today the illustrative offer
price as of November 12, 2013 in
connection with the offer (the "Offer") by the Offerors to purchase
any and all of the outstanding common shares, no par value, and
preferred shares, no par value ("Preferred Shares"), including
Preferred Shares represented by American Depositary Shares
("ADSs"), of Net Servicos de Comunicacao S.A. ("Net") (BOVESPA:
NETC3 and NETC4; NASDAQ: NETC; BMAD: XNET) other than those held by
the Offerors or their affiliates. The Offer is being made upon the
terms and subject to the conditions set forth in the offer to
purchase, dated October 17, 2013, as
amended and supplemented (the "Offer to Purchase"), and the related
ADS letter of transmittal.
The offer price as of November 12,
2013, updated only for illustrative purposes to include
interest accrued each Brazilian business day from June 8, 2012 through November 12, 2013 on the base offer price of
R$26.64 at the CDI Rate, is
R$29.64. Information about the CDI
Rate and the base offer price plus accrued interest on the base
offer price will continue to be provided and updated on Embratel's
website at
http://www.embratel.com.br/Embratel02/cda/portal/0,2997,RI_P_8832,00.html
each Brazilian business day for illustrative purposes through the
auction date, which is currently expected to be November 27, 2013.
No changes have been made to the offer price or the other terms
and conditions of the Offer. The Offer and associated withdrawal
rights expire, in the case of holders of ADSs tendering through The
Bank of New York Mellon, as receiving agent, at 10:00 a.m., New York
City time, and, in the case of holders of Common Shares and
Preferred Shares tendering directly, at 3:00
p.m., New York City time,
in each case on November 26, 2013,
unless the Offer is extended.
Important Information
Complete terms and conditions of the tender offer are set forth
in the Offer to Purchase, ADS letter of transmittal and other
related materials filed by the Offerors with the SEC on
October 17, 2013, as amended and
supplemented. Copies of the Offer to Purchase, ADS letter of
transmittal and other related materials are available free of
charge from D.F. King & Co.,
Inc., the information agent for the tender offer, toll free at
(800) 859 -8508 or via email at netservicos@dfking.com.
About Embratel
Embratel is the premium telecommunications provider in
Brazil and offers an ample variety
of telecom services—local and long distance telephony, advanced
voice, high-speed data transmission, Internet, satellite data
communications, and corporate networks. The company is a leader in
the country for data services and Internet, and is highly qualified
to be an all-distance network carrier in Latin America. Embratel's network spreads
countrywide, with almost 29 thousand km of optic cables, which
represents about one million and sixty-nine thousand km of fiber
optics.
Forward-Looking Statements
This document may contain forward-looking statements. These
statements are statements that are not historical facts, and are
based on management's current view and estimates of future economic
circumstances, industry conditions, company performance and
financial results. The words "anticipates," "believes,"
"estimates," "expects," "plans" and similar expressions, as they
relate to the company, are intended to identify forward-looking
statements. Statements regarding the declaration or payment of
dividends, the implementation of principal operating and financing
strategies and capital expenditure plans, the direction of future
operations and the factors or trends affecting financial condition,
liquidity or results of operations are examples of forward-looking
statements. Such statements reflect the current views of management
and are subject to a number of risks and uncertainties. There is no
guarantee that the expected events, trends or results will actually
occur. The statements are based on many assumptions and factors,
including general economic and market conditions, industry
conditions, and operating factors. Any changes in such assumptions
or factors could cause actual results to differ materially from
current expectations.
For further information please contact:
Embratel Participacoes S.A.
Isaac Berensztejn
Director of Investor Relations
Av. Presidente Vargas, n 1012
20071-002 Rio de Janeiro, RJ,
Brazil
Telephone: (55) 21 2121-3636
SOURCE Embratel and Embrapar