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RIO DE JANEIRO, Nov. 12, 2013 /PRNewswire/ -- Empresa Brasileira de Telecomunicacoes S.A. — Embratel (Embratel) and Embratel Participacoes S.A. (Embrapar) (together, the "Offerors") announced today the illustrative offer price as of
November 12, 2013, correcting a previous announcement on the same date, in connection with the offer (the "Offer") by the Offerors to purchase any and all of the outstanding common shares, no par value, and preferred shares, no par value ("Preferred Shares"), including Preferred Shares represented by American Depositary Shares ("ADSs"), of Net Servicos de Comunicacao S.A. ("Net") (BOVESPA: NETC3 and NETC4; NASDAQ: NETC; BMAD: XNET) other than those held by the Offerors or their affiliates. The Offer is being made upon the terms and subject to the conditions set forth in the offer to purchase, dated
October 17, 2013, as amended and supplemented (the "Offer to Purchase"), and the related ADS letter of transmittal.
The offer price as of
November 12, 2013, updated only for illustrative purposes to include interest accrued each Brazilian business day from
June 8, 2012 through
November 12, 2013 on the base offer price of
R$26.64 at the CDI Rate, is
R$29.62, rather than
R$29.64 as previously announced earlier today. Information about the CDI Rate and the base offer price plus accrued interest on the base offer price will continue to be provided and updated on Embratel's website at
http://www.embratel.com.br/Embratel02/cda/portal/0,2997,RI_P_8832,00.html each Brazilian business day for illustrative purposes through the auction date, which is currently expected to be
November 27, 2013.
No changes have been made to the offer price or the other terms and conditions of the Offer. The Offer and associated withdrawal rights expire, in the case of holders of ADSs tendering through The Bank of New York Mellon, as receiving agent, at
New York City time, and, in the case of holders of Common Shares and Preferred Shares tendering directly, at
New York City time, in each case on
November 26, 2013, unless the Offer is extended.
Complete terms and conditions of the tender offer are set forth in the Offer to Purchase, ADS letter of transmittal and other related materials filed by the Offerors with the SEC on
October 17, 2013, as amended and supplemented. Copies of the Offer to Purchase, ADS letter of transmittal and other related materials are available free of charge from
D.F. King & Co., Inc., the information agent for the tender offer, toll free at (800) 859 -8508 or via email at