Offer Update
19 August 2010 - 7:15PM
UK Regulatory
TIDMNPN TIDMDDT
RNS Number : 3236R
Nippon Telegraph and Telephone Corp
19 August 2010
Not for release, publication or distribution, in whole or part, in, into or from
any jurisdiction where to do so would constitute a violation of the relevant
laws in that jurisdiction
19 August 2010
Recommended Cash Offer
for
Dimension Data Holdings plc ("Dimension Data")
by
Nippon Telegraph and Telephone Corporation ("NTT")
Satisfaction of Condition
On 12 August 2010, NTT and Dimension Data announced the publication of the offer
documentation in connection with the recommended cash Offer by NTT for the
entire issued and to be issued share capital of Dimension Data.
NTT and Dimension Data are pleased to announce that they have obtained the
necessary antitrust clearance from the European Commission in connection with
the Offer.
NTT and Dimension Data also announce that they have received notification from
the Foreign Investment Review Board that there are no objections to the Offer
under Australia's foreign investment policy.
This follows the expiration of the applicable waiting period under the United
States Hart-Scott-Rodino Antitrust Improvements Act of 1976 (as amended)
announced by NTT and Dimension Data on 12 August 2010. The Offer remains
conditional upon the satisfaction or, if permitted, waiver of the remaining
conditions to the Offer contained in the Offer Document published on 12 August
2010.
Defined terms used but not defined in this announcement have the meanings set
out in the Offer Document.
- Ends -
For further information:
+------------------------------+-----------------+
| NTT - Global Business | Telephone: +81 |
| Strategy Office | 3 5205 5191 |
+------------------------------+-----------------+
| | |
+------------------------------+-----------------+
| Morgan Stanley | |
| (Financial Adviser to NTT) | |
+------------------------------+-----------------+
| Laurence Hopkins (London) | Telephone: +44 |
| | 20 7425 8000 |
+------------------------------+-----------------+
| Hironobu Wakabayashi (Tokyo) | Telephone: +81 |
| | 3 5424 5000 |
+------------------------------+-----------------+
| Risana Zitha (Johannesburg) | Telephone: +27 |
| | 11 587 0800 |
+------------------------------+-----------------+
| | |
+------------------------------+-----------------+
| Dimension Data | |
+------------------------------+-----------------+
| Patrick Quarmby | Telephone: +27 |
| | 11 575 0000 |
+------------------------------+-----------------+
| David Sherriffs | Telephone: +27 |
| | 11 575 0000 |
+------------------------------+-----------------+
| | |
+------------------------------+-----------------+
| J.P. Morgan Cazenove | |
| (Financial Adviser and | |
| Corporate Broker to | |
| Dimension Data) | |
+------------------------------+-----------------+
| Michael Wentworth-Stanley | Telephone: +44 |
| (London) | 20 7588 2828 |
+------------------------------+-----------------+
| David Harvey-Evers (London) | Telephone: +44 |
| | 20 7588 2828 |
+------------------------------+-----------------+
| Grant Tidbury (Johannesburg) | Telephone: +27 |
| | 11 507 0300 |
+------------------------------+-----------------+
Mitsubishi UFJ Morgan Stanley Securities Co. Ltd, Morgan Stanley & Co. Limited
and Morgan Stanley South Africa (Proprietary) Limited (together, "Morgan
Stanley") are acting as exclusive financial advisers to NTT and no one else in
connection with the Offer and will not be responsible to anyone other than NTT
for providing the protections afforded to clients of Morgan Stanley nor for
providing advice in connection with the Offer, the contents of this announcement
or any matter referred to herein.
J.P. Morgan plc, which conducts its UK investment banking business as J.P.
Morgan Cazenove and which is authorised and regulated by the UK Financial
Services Authority, is acting for Dimension Data and no-one else in connection
with the Offer and this document and will not be responsible to anyone other
than Dimension Data for providing the protections afforded to clients of J.P.
Morgan plc or for providing advice in relation to the Offer, the contents of
this announcement or any matter referred to in this document.
The Offer will be made in the United States in reliance on, and compliance with,
Section 14(e) of the Exchange Act and Regulation 14E thereunder. The Offer will
not be extended to, and may not be accepted by, holders of Dimension Data's
American Depositary Receipts.
The Offer relates to the shares of a UK company and will be governed by English
law. The Offer will primarily be subject to the disclosure requirements and
practices applicable in the UK to takeover offers, which may differ from the
disclosure requirements of the SRP and the United States. Furthermore, the
payment and settlement procedures with respect to the Offer will comply with the
relevant United Kingdom rules, which differ from United States payment and
settlement procedures.
Publication on Website
A copy of this announcement will be made available, free of charge, on NTT's
website at (http://www.ntt.co.jp/ir/index_e.html) by no later than 12.00 noon
(London time) on 20 August 2010.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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