31/01/2005 14:57
The CSE Council decided on Monday to reject the public offer of NETI L.C.C for the acquisition of 55% of Avacom Computer Services at the price of 46 cents per share (total £25.9 million).
According to sources, NETI failed to provide the competent authorities with the additional information required. “The clarifications we received were not satisfactory”, the CSE said. “There were certain obscurities in the results of the company and its parent company”. As for the acquisition price of 46 cents per share, the Securities and Exchange Commission received no clarifications.
The CSE is expected to issue the relevant announcement later this day.
According to sources, NETI failed to provide the competent authorities with the additional information required. “The clarifications we received were not satisfactory”, the CSE said. “There were certain obscurities in the results of the company and its parent company”. As for the acquisition price of 46 cents per share, the Securities and Exchange Commission received no clarifications.
The CSE is expected to issue the relevant announcement later this day.
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