Offer for Telia´s share in Eircom

Offer for Telia´s share in Eircom The Boards of Eircom plc and Valentia Telecommunications Limited have today announced that they have reached agreement on principal terms of a proposed offer as set out below for the entire issued share capital of Eircom. Valentia has been granted a period of exclusivity until 25 June 2001 in which to finalise the terms of the offer. Under the proposed offer, Eircom shareholders would be offered the following alternatives: - a cash offer of EUR 1.27 per Eircom share or - a participating offer, structured as a cash payment of EUR 1.25 per Eircom share and a warrant over Valentia's ordinary share capital. Each warrant will carry the right to a cash cancellation payment of EUR 0.04 one year after the offer has been declared unconditional or EUR 0.07 per warrant three years after the offer has been declared unconditional. These cash payments will be guaranteed by Goldman Sachs International. Telia, which indirectly owns 14% of Eircom, has today given an irrevocable undertaking to accept the offer which represents a value of approximately SEK 3.7 billion to Telia. "This offer provides Telia with an excellent opportunity to monetise its stake in Eircom, as a further step in Telia's strategy to focus on its core business" says Telia's CFO Bo Jacobsson. For further information journalists can contact: Bo Jacobsson, Chief Finacial Officer, Telia +46 8 713 58 30 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.bit.se/bitonline/2001/06/11/20010611BIT00760/bit0001.doc http://www.bit.se/bitonline/2001/06/11/20010611BIT00760/bit0001.pdf