Referring to the NetCom AB (publ) offer as of today to acquire all outstanding shares in Société Européenne de Communication S.A. (SEC), the board of directors of Industriförvaltnings AB Kinnevik has today accepted the NetCom offer, meaning that for every 11.5 SEC share, Kinnevik obtains 1 NetCom share. Kinnevik supports the merger between NetCom and SEC. The board's decision was unanimous. In order to avoid potential questions with regards to conflict of interest, the board's decision is subject to approval at an extraordinary shareholders meeting that will be held on Thursday, August 10, 2000 at 12.00 a.m. at the premises of Gamla Stans Bryggeri, Tullhus 2, Skeppsbron, Stockholm.
Kinnevik holds 225.5 million shares in SEC, equivalent to 39.4%. Furthermore, Kinnevik holds 16.4 million shares in Millicom International Cellular S.A. (MIC), equivalent to 33.6% of MIC who in turn holds 169.2 million shares in SEC, equivalent to 30% of SEC.
Kinnevik will subject to the acceptance of the offer at the shareholders meeting directly hold 22.95 million shares in NetCom, equivalent to approximately 16% of the shares in NetCom.
Stockholm, July 24, 2000
INDUSTRIFÖRVALTNINGS AB KINNEVIK
For further information:
Vigo Carlund, President, Industriförvaltnings AB Kinnevik, phone +46 8 562 000 00