Nippon Telegraph and Telephone ADR Reptg 1/2 Ord Shs: Key Developments
Nippon Telegraph and Telephone Corp. In Race For Patni Computer System Ltd. Stake-Reuters
November 18, 2009 |
| Reuters reported that Nippon Telegraph and Telephone Corp. has entered the race to buy a majority stake in Patni Computer System Ltd. Other potential suitors include the software arm of Larsen & Toubro and Fujitsu. Nippon Telegraph is in talks with the founders of Patni and private equity firm General Atlantic, which bought an 18% stake in 2001. |
Nippon Telegraph and Telephone Corp. Forms Business Alliance with ROIS-Jiji Press
October 21, 2009 |
| Jiji Press reported that Nippon Telegraph and Telephone Corp. has formed a business alliance with Research Organization of Information and Systems (ROIS), to jointly research content processing and network systemization. |
Integralis AG and Nippon Telegraph and Telephone Corp.'s NTT Communications Corporation Announce Completion of Public Tender Offer
September 30, 2009 |
| Integralis AG and Nippon Telegraph and Telephone Corp.'s NTT Communications Corporation announced that upon the expiration of the acceptance period of the public takeover offer for Integralis AG on September 25, 2009, it has secured 8,711,311 shares amounting to approximately 78% of 11,175,032 Integralis shares (diluted outstanding shares according to section 3.5(1) of the offer document). The shares secured above include 164,000 shares that NTT Com acquired outside the offer on September 23, 2009 as announced on September 24, 2009. The 8,711,311 shares secured by NTT Com are approximately 75% on the basis of 11,585,137 Integralis shares and voting rights. All conditions to the offer have now been fulfilled. As required by the German Securities Acquisition and Takeover Act, an additional two-week acceptance period will follow from September 30, 2009 to October 14, 2009. This would be the last opportunity for Integralis shareholders who have not yet tendered their shares to secure the offer consideration of EUR 6.75 per share in cash. |
Integralis AG and NTT Communications Agree Upon Comprehensive Partnership and Takeover by NTT Communications, Subsidiary of Nippon Telegraph and Telephone Corp.
June 30, 2009 |
| Integralis AG announced that NTT Communications Corporation (NTT Com), a subsidiary of Nippon Telegraph and Telephone Corporation, and Integralis AG (Integralis) have signed a Business Combination Agreement (BCA). The BCA stipulates the basis of this partnership and the individual steps for its implementation. NTT Com will be making a voluntary public offer to the shareholders of Integralis for all of the outstanding Integralis shares at a price of EUR 6.75 in cash per share. On the basis of 10,993,032 Integralis shares outstanding, this offer would represent an equity value of approximately EUR 75 million. NTT Com has informed Integralis that it has already secured irrevocable undertakings representing approximately 30% of Integralis' voting rights, including from all members of the management and the supervisory boards of Integralis. The offer document will be published upon approval by the German Federal Financial Supervisory Authority most likely at the end of July/the beginning of August 2009. The offer will be subject to several conditions which include, amongst others, that a minimum acceptance threshold of 75% is reached (excluding the treasury shares of Integralis) and that regulatory approvals are received. NTT Com anticipates completing the transaction by end of September 2009. On successful completion of the voluntary public offer, NTT Com and Integralis will without delay implement the integration process of Integralis into the NTT Com group. |
Tokio Marine Holdings, Inc., Nippon Telegraph and Telephone Corp.'s NTT Finance To Launch Online Auto Insurance Business-DJ
June 8, 2009 |
| Dow Jones reported that according to Kyodo News, Tokio Marine Holdings, Inc. and NTT Finance Corp., a unit of Nippon Telegraph and Telephone Corp., will start selling auto insurance policies via cellphone and the Internet beginning June 13. E.design Insurance Co., which the companies jointly established with capital of JPY13.5 billion, obtained its business license from the Financial Services Agency. The company offers policies which cover 15 insurance riders often needed by policy purchasers, such as family motorbike insurance in case of an accident involving a minibike owned by a family. |
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