Press Release Turin, June 26th 2001
6/26/2001 11:47 AM EST
SEAT PAGINE GIALLE ("SEAT") has decided not to lower the acceptance
threshold in the offer it has made to acquire Eniro AB, the Scandinavian
Directories Company. The SEAT offer, which expires on June 27th 2001, is
conditional upon, among other things, a 50.1% acceptance level.
The hypothesis of SEAT lowering the acceptance threshold acquiring a
minority stake in Eniro has been dismissed by the company on the basis
that this would have a negative impact on the industrial logic of the
merger, could have created a potential conflict on future acquisitions
and could have significantly reduced the free float of the Eniro share.
The option of increasing the economic terms of the offer has not been
considered.
Eniro's CEO Lars Guldstrand commented on the SEAT decision as follows:
"We saw and can still see the industrial benefits with the planned
merger and we have a continued good working relationship with SEAT."
SEAT's offer is not being made to persons whose participation requires
that further prospectuses are issued or that registration or other
measures are taken in addition to those required under Swedish law.
Accordingly, the offer is not being made to persons in the United States
of America, Canada, Japan or Australia, except to the extent necessary
exemptions from registration or other measures are available, and the
related documents may not and will not be mailed to or otherwise
distributed or sent in or from the United States of America, Canada,
Japan or Australia, nor will acceptance forms from such jurisdictions be
accepted.