'DoCoMo lowers minimum acceptance level for Net offer to 50%'

DoCoMo Deutschland, wholly-owned subsidiary of Japanese mobile operator NTT DoCoMo, has reduced the minimum acceptance level for its public tender offer for German mobile content distributor Net Mobile to 50 percent plus one share of the currently issued 7.69 million Net Mobile shares. As of 23 October, a total of 45.05 percent of Net Mobile shares have been validly tendered to Docomo Deutschland. In accordance with the offer document, the acceptance period for the offer has been extended until 9 November. The offer was previously scheduled to expire 26 October. Net Mobile shareholders can tender their shares at the same price of EUR 6.35 in cash for each share in accordance with the offer. DoCoMo Deutschland also recently obtained antitrust clearance for its public tender offer for Net Mobile by the German Cartel Office. The transaction was also cleared by the German Ministry of Economy and Technology. Clearance from banking supervisor BaFin is still pending.

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Related terms: antitrust, banking, economy, japan, technology