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NetCom makes bid for SEC

NEW YORK-Global System for Mobile communications operator NetCom AB offered $3.1 billion for the total issued share capital of Societe Europeenne de Communication.

The offer values each SEC B share at $6.80, a 22.3-percent premium against the closing price of SEC’s B shares on the Stockholm, Sweden, Exchange O-list on July 21, and values the total issued share capital of SEC at $3.8 billion.

The proposed merger will result in NetCom shareholders owning approximately 71.7 percent of the combined group, with SEC shareholders holding the remaining 28.3 percent. If the offer is approved, the combined company will serve more than 9 million customers.

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