Key Developments: Net Servicos de Comunicacao SA (NETC.O)
15.05USD
23 May 2013
$-0.02 (-0.13%)
$15.07
$15.21
$15.21
$15.05
500
2,032
$15.50
$12.55
Latest Key Developments (Source: Significant Developments)
Net Servicos de Comunicacao SA Announces Financing
Net Servicos de Comunicacao SA announced that on March 15, 2013 the Board of Directors authorized the contracting of financing by the Company and its subsidiaries Net Rio Ltda and Net Sao Paulo Ltda upon America Movil and its subsidiaries totaling BRL 540 million with a final maturity of three years and interests linked to up to 1.08% per annum. Full Article
Net Servicos de Comunicacao SA Issues BRL 680 Million Promissory Commercial Notes
Net Servicos de Comunicacao SA announced that on October 23, 2012 its Board of Directors approved the issue of 68 promissory commercial notes, in a single series, at the nominal unit value of BRL 10 million, totaling BRL 680 million, maturing within 180 days. Full Article
Embratel Participacoes SA Announces Change in Shareholding Structure of Net Servicos de Comunicacao SA
Embratel Participacoes SA (Embrapar) announced that it has reached an agreement with Globo Comunicacao e Participacoes SA (Globo) with regard to restructuring of shareholding of its subsidiary Empresa Brasileira de Telecomunicacoes SA (Embratel) and by Globo in the share capital of GB Empreendimentos e Participacoes SA (GB) and Net Servicos de Comunicacao SA (NET). The transaction will be done through the partial spin-off of GB. The spun-off part solely composed of shares of NET will be transferred to EG Participacoes SA which is controlled by Embrapar and whose share capital will be also held by Globo as minority shareholder as a result of the transfer described above. The parties also decided that the direct holding of Embrapar and Embratel in NET will be taken as capital increase of GB which is controlled by Embrapar and holder of a minority stake in NET. Full Article
Embratel Participacoes SA Withdraws Offer for Acquisition of Shares of Net Servicos de Comunicacao SA for Cancellation of Public Register; Announces Public Offering for Sale of NET’s Control
Embratel Participacoes SA (Embrapar) announced that, following the information disclosed to the market on June 7, 2012 and June 28, 2012 that it decided to withdraw the public offer for the acquisition of shares aiming at the cancellation of the public register of Net Servicos de Comunicacao SA (NET). In this way, Embrapar will only issue together with its subsidiaries Empresa Brasileira de Telecomunicacoes SA - EMBRATEL and GB Empreendimentos e Participacoes SA a public offering for the sale of NET’s control at the price of BRL 26.64 per share regardless its class or species. Full Article
Embratel Participacoes SA Updates on Net Servicos de Comunicacao SA's Cancellation of Public Register Subject to Public Acquisition Offering of Total of Shares
Embratel Participacoes SA announced that, following the information disclosed to the market on April 5, 2012, the price to be offered in the public tender offer for the acquisition of the total of the ordinary and preferred shares of Net Servicos de Comunicacao SA (NET) is BRL 26.64 per share, regardless of its type or class. The offer will be launched by the Company together with its subsidiaries Empresa Brasileira de Telecomunicacoes SA - EMBRATEL and GB Empreendimentos e Participacoes SA. The Company has reserved the right to withdraw the public offer for the cancellation of the public register of NET if NET's shareholders representing 10% or more of its share capital will require a special meeting to deliberate on another appraisal report. Full Article
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