Potential Sale of Vewd (Opera TV) Minority Stake
As reported to the market on December 20, 2016, Otello had completed the sale of the majority stake in the Vewd Software business (f/k/a Opera TV) (the “Company”) to Moore Frères & Co LLC (“MFC”), which today is the majority shareholder and controls the board of directors of the Company (the “Board”). On February 20, 2018, Otello Corporation ASA (“Otello”) entered into a share purchase agreement (the “SPA”) for the sale of its remaining ownership stake (approximately 27-28.5%, depending on management options) in the Vewd Software business. The SPA contains certain conditions for