Vivo Announces Completion of Mergers
30 Mars 2006 - 1:00PM
PR Newswire (US)
SAO PAULO, Brazil, March 30 /PRNewswire-FirstCall/ -- The
management of Vivo Participacoes S.A. (formerly known as Telesp
Celular Participacoes S.A. (NYSE:TCP) ("Vivo" or "TCP") and of Tele
Centro Oeste Celular Participacoes S.A. (NYSE:TRO) ("TCO")
announced the completion of the merger of shares of TCO with Vivo
and the merger of companies of Tele Leste Celular Participacoes
S.A. (NYSE:TBE) ("TLE"), Tele Sudeste Celular Participacoes S.A.
(NYSE:TSD) ("TSD") and Celular CRT Participacoes S.A. into Vivo.
The mergers were approved by the voting shareholders of all the
companies at extraordinary general shareholders' meetings held on
February 22, 2006 and were legally effective from that date. The
period for the exercise of appraisal rights by shareholders of the
companies who had a right to exercise such rights ended on March
27, 2006. American Depositary Shares ("ADSs") of TCP, TCO, TLE and
TSD will continue trading on the New York Stock Exchange under
their existing ticker symbols until the end of trading today, March
30, 2006. Beginning on March 31, 2006, the ADSs of Vivo are
expected to trade on the New York Stock Exchange under the ticker
symbol "VIV." The Bank of New York, as depositary for the ADS
programs of TCO, TLE and TSD, will close its books for all
transfers and other transactions involving ADSs of those companies
on April 4, 2006. The depositary will begin to deliver American
Deposit Receipts ("ADRs") representing Vivo ADSs to holders of ADRs
of TCO, TLE and TSD on or about April 5, 2006 at the applicable
exchange ratios based on the registered holders of ADSs of TCO, TLE
and TSD at the close of business on April 4, 2006. Important
notice: Investors in ADSs of TCP, TCO, TLE and TSD and U.S. holders
of common shares and preferred shares of TCP, TCO, TLE, TSD and
Celular CRT are urged to read the Prospectus, dated January 24,
2006, of TCP (which also serves as an information statement for
holders of ADSs of TCP and U.S. holders of shares of TCP) relating
to the mergers described above because it contains important
information. Investors and security holders may obtain a free copy
of the Prospectus and other documents filed by TCP with the SEC at
the SEC's website at http://www.sec.gov/. A copy of the Prospectus
may also be obtained for free from Vivo. Forward-looking
statements: This press release contains forward-looking statements.
These statements are statements that are not historical facts, and
are based on management's current view and estimates of future
events. The words "anticipates", "believes", "estimates",
"expects", "plans" and similar expressions, as they relate to the
company, are intended to identify forward- looking statements. Such
statements reflect the current views of management and are subject
to a number of risks and uncertainties. There is no guarantee that
the expected events, trends or results will actually occur. The
statements are based on many assumptions and factors, and any
changes in such assumptions or factors could cause actual events to
differ materially from current expectations. DATASOURCE: Vivo
Participacoes S.A. CONTACT: Charles Allen, +5511-5105-1172 for Vivo
Participacoes S.A. Web site: http://www.vivo.com.br/
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