TELMEX ANNOUNCES CASH TENDER OFFER FOR SHARES OF EMBRATEL

Transcripción

1 TELMEX PRESS RELEASE: TELMEX ANNOUNCES CASH TENDER OFFER FOR SHARES OF E 6-K 1 pr htm TELMEX PRESS RELEASE: TELMEX SHARES OF EMBRATEL MAY 8,2006 FORM 6-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C Report of Foreign Private Issue Pursuant to Rule 13a-16 or 15d-16 the Securities Exchange Act of 1 For the month of May 2006 Commission File Number: Teléfonos de México, S.A. de C. (Exact Name of the Registrant as Telephones of Mexico Spec (Translation of Registrant's Parque Vía 190 Name Colonia Cuauhtémoc México City 06599, México, D.F. (Address of principal executive o Indicate by check mark whether the registrant f or Form 40-F. Form 20-F......F Indicate by check mark if the registrant is sub Regulation S-T Rule 101(b)(1): Indicate by check mark if the registrant is sub Regulation S-T Rule 101(b)(7): Indicate by check mark whether by furnishing th is also thereby furnishing the information to t Securities Exchange Act of Yes... No..... file:///c /Documents%20and%20Settings/b36...0SHARES%20OF%20EMBRATEL%20MA

2 TELMEX PRESS RELEASE: TELMEX ANNOUNCES CASH TENDER OFFER FOR SHARES OF E If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- TELMEX ANNOUNCES CASH TENDER OFFER FOR SHARES OF EMBRATEL Mexico City, May 8, Teléfonos de México, S.A. de C.V. (TELMEX) (BMV: TELMEX; NYSE: TMX; NASDAQ: TFONY; LATIBEX: XTMXL) announced today that, through a ian subsidiary, TELMEX will make a cash tender offer for any and all outstanding publicly held common and preferred shares of Embratel Participações S.A. (Embratel Holdings). The price will be 6.95 ian reais per 1,000 shares, plus indexation as described below, for both common shares and preferred shares. TELMEX currently owns 72.4% of the outstanding shares of Embratel Holdings, including 97.3% of the common shares and 45.5% of the preferred shares. Unibanco - União de Bancos Brasileiros S.A. will act as the intermediary institution for the tender offer in. The commencement of the tender offer is subject to registration by the Commissão de Valores Mobiliários (CVM), the ian stock exchange regulator. TELMEX will commence the offer by publishing a Notice of Tender Offer (edital) in after the CVM approves the registration of the tender offer. TELMEX intends to submit a request for registration to the CVM on May 9, 2006, but it cannot predict the date on which it will be able to commence the tender offer. The tender offer will be classified as a mandatory public tender offer for the purchase of all outstanding shares, for the purpose of canceling the registration of Embratel Holdings as a public company under Article 21 of ian Law No. 6,385/76, pursuant to Article 4, section 4 of Law No. 6,404/76 and CVM Instruction No. 361/02. This announcement is made pursuant to CVM Instruction No. 358/02. The tender offer will also be open to all holders of shares in the United States, including holders of preferred shares represented by American Depositary Shares (ADSs). Arrangements will be made for holders of ADSs to tender through a receiving agent in the United States and to be paid the purchase price in U.S. dollars based on exchange rates prevailing at the time of payment. Upon commencement of the tender offer, TELMEX will publish a tender offer statement and file it with the U.S. Securities and Exchange Commission (SEC). Holders of Embratel Holdings shares and ADSs should read the tender offer statement, because it will contain important information about the tender offer. The tender offer statement will be available free of charge at the website of the SEC and from TELMEX. The tender offer will be for any and all outstanding common shares and preferred shares, and the offer price will be 6.95 ian reais per 1,000 shares, indexed to the Taxa Referencial (an interest rate published by the Central Bank of ) from today through the settlement of the tender offer. The tender offer will be subject to certain conditions. As required by ian law, TELMEX may be required to accept less than all shares tendered, and to prorate tendering holders, under limited circumstances that will be described in the Notice of Tender Offer and the tender offer statement. The purchase price is approximately 31% greater than the closing price of the common shares and 26% greater than the closing price of the preferred shares of Embratel Holdings on Friday, May 5, The purchase price is also approximately 35% greater than the weighted average price of the common shares and 30% greater than the weighted average price of the preferred shares of Embratel Holdings on the São Paulo Stock Exchange (Bovespa) for the 30 days through May 5, file:///c /Documents%20and%20Settings/b36...0SHARES%20OF%20EMBRATEL%20MA

3 TELMEX PRESS RELEASE: TELMEX ANNOUNCES CASH TENDER OFFER FOR SHARES OF E Following the offer, if the applicable requirements of ian and U.S. law are met, (a) the CVM will withdraw the registration of Embratel Holdings as a publicly traded company and require the delisting of the common shares and the preferred shares from Bovespa, (b) TELMEX will cause Embratel Holdings to redeem for cash at the tender offer price any shares that have not been purchased in the tender offer, and (c) TELMEX will cause Embratel Holdings to terminate the listing of the ADSs on the New York Stock Exchange, to terminate the Deposit Agreement under which the ADSs are issued, and to terminate its reporting obligations under the U.S. securities laws. Each of these steps is subject to different legal requirements, which will be described in the Notice of Tender Offer and the tender offer statement. Whether the requirements for each step are met will depend in part on the number of shares purchased in the tender offer. For purposes of Article 4, section 4 of Law No. 6,404/76 and CVM Instruction No. 361/02, TELMEX retained Banco ABN AMRO Real S.A. to prepare a valuation report (laudo de avaliação) with respect to Embratel Holdings, which is dated May 1, 2006 (Valuation Report). TELMEX will submit the Valuation Report to the CVM and to Bovespa on May 9, For purposes of Article 4-A of Law No. 6,404/76 and of Articles 23 and 24 of CVM Instruction 361/02, the Valuation Report and a form of the Notice of Tender Offer may be consulted at the following addresses: COMISSÃO DE VALORES MOBILIÁRIOS Rua Sete de Setembro, no. 111, 5th floor,"centro de Consultas" Rio de Janeiro, RJ, Rua Formosa, no. 367, 20th floor, Downtown, São Paulo, SP, BOLSA DE VALORES DE SÃO PAULO - BOVESPA Rua XV de Novembro, 275, São Paulo, SP, Colonia Cuauthtémoc TELÉFONOS DE MÉXICO, S.A. DE C.V. Parque Vía 198, Oficina 701 México, D.F., C.P Mexico EMBRATEL PARTICIPAÇÕES S.A. Rua Regente Feijó, no. 166, Office 1687-B Centro, Rio de Janeiro RJ, file:///c /Documents%20and%20Settings/b36...0SHARES%20OF%20EMBRATEL%20MA

4 TELMEX PRESS RELEASE: TELMEX ANNOUNCES CASH TENDER OFFER FOR SHARES OF E UNIBANCO - UNIÃO DE BANCOS BRASILEIROS S.A. Av. Eusébio Matoso, 891, 20 th floor Pinheiros, São Paulo, SP, TELMEX is the leading telecommunications company in Mexico. TELMEX and its subsidiaries provide a wide range of telecommunications services, data and video transmission and Internet access, as well as integrated telecommunications solutions to its corporate customers. Additionally, it offers telecommunications services through its international subsidiaries in Argentina,, Chile, Colombia and Peru. More information about TELMEX can be accessed on the Internet at Embratel Participações S.A. is the holding company of Embratel, a leading integrated telecommunications provider offering solutions to business and services to residential customers all over. Service offerings include: outsourcing, high-speed data communications, Internet, corporate networks, advanced voice and international, domestic and local telephony. Embratel operates a proprietary state-of-the-art network with countrywide coverage and presence in 's main metropolitan areas. It also controls TELMEX do Brasil, a corporate business telecommunications provider and has a percent economic interest in Net Serviços, 's leading pay TV operator. SIGNATURE Pursuant to the requirements of the Securities this report to be signed on its behalf by the u Date: May 8, TELÉFONOS DE MÉXICO, S.A. D By: /s/ Name: Adolfo Cerezo Pérez Title: Chief Financial Offi Ref: Teléfonos de México, S.A. de C.V. - TELMEX ANNOUNCES CASH TENDER OFFER FOR SHARES OF EMBRATEL file:///c /Documents%20and%20Settings/b36...0SHARES%20OF%20EMBRATEL%20MA

5 ComunicadodePrensa TELMEX ANUNCIA OFERTA PÚBLICA DE COMPRA DE ACCIONES DE EMBRATEL México D.F., a 8 de mayo de Teléfonos de México, S.A. de C.V. (TELMEX) (BMV: TELMEX; NYSE: TMX; NASDAQ: TFONY; LATIBEX: XTMXL) anunció el día de hoy que a través de una subsidiaria brasileña, TELMEX realizará una oferta pública en efectivo para cualquiera o todas la acciones comunes y preferentes en circulación de Embratel Participações S.A. (Embratel Holdings). El precio será de 6.95 reales brasileños por mil acciones más la actualización, como se describe a continuación, para las acciones comunes y preferentes. Actualmente, TELMEX posee 72.4% de las acciones en circulación de Embratel Holdings que incluye 97.3% de acciones comunes y 45.5% de acciones preferentes. La institución intermediaria de la oferta pública en Brasil será Unibanco, União de Bancos Brasileiros S.A. El inicio de la oferta pública está sujeto al registro ante la Commissão de Valores Mobiliários (CVM), órgano regulador del mercado de valores brasileño. TELMEX iniciará la oferta con la publicación de una Notificación de Oferta Pública (edital) en Brasil, posterior a la aprobación del registro de la oferta pública por parte de la CVM. TELMEX tiene la intención de suscribir una petición de registro ante la CVM el 9 de mayo de 2006, sin embargo, no puede precisar el día en que será posible comenzar la oferta pública. La oferta pública estará clasificada como obligatoria para la compra de todas las acciones en circulación, con el propósito de cancelar el registro de Embratel Holdings como compañía pública de acuerdo con el Artículo 21 de la ley brasileña No. 6,385/76, conforme al artículo 4, sección 4 de la ley No. 6,404/76 y la instrucción No. 361/02 de la CVM. Este anuncio se realiza de acuerdo con la instrucción No. 358/02 de la CVM. La oferta pública también estará abierta a todos los tenedores de acciones en los Estados Unidos de América, incluyendo a los de acciones preferentes representados por American Depositary Shares (ADSs). Los trámites de oferta para tenedores de ADSs, se realizarán a través de un agente receptor en los Estados Unidos de América y el precio se pagará en dólares americanos de acuerdo al tipo de cambio en el momento de realizar el pago. Al inicio de la oferta pública, TELMEX publicará un documento de la oferta pública y la registrará ante la U.S. Securities and Exchange Commission (SEC). Los tenedores de acciones y ADSs de Embratel Holdings deberán leer el documento de la oferta ya que contiene información importante de la misma. El documento de la oferta pública estará disponible y libre de cargo alguno en la página de Internet de la SEC y así también solicitándolo a TELMEX. La oferta pública será para cualquiera y todas las acciones comunes y preferentes y el precio de oferta será de 6.95 reales brasileños por cada mil acciones actualizadas a la Taxa Referencial (tasa de interés publicada por el Banco Central de Brasil) a partir de hoy y hasta la liquidación de la oferta pública. La oferta pública estará sujeta a ciertas condiciones. Como lo dicta la ley brasileña, es posible que se le requiera a TELMEX aceptar menos acciones del total de la oferta pública y prorratear a los tenedores que participen en la oferta pública bajo circunstancias limitadas que se describirán en la notificación y en el documento de la oferta pública. El precio de adquisición es aproximadamente 31% mayor al precio de cierre de las aciones comunes y 26% mayor al de las acciones preferentes de Embratel Holdings del viernes 5 de mayo de El precio de adquisición también es 35% mayor al precio promedio ponderado de las acciones comunes y 30% mayor al precio promedio ponderado de las aciones preferentes de Embratel Holdings en la Bolsa de Valores de São Paulo (Bovespa) durante los 30 días hasta el 5 de mayo de Página [1]

6 ComunicadodePrensa Después de la oferta, si los requerimientos aplicables de las leyes brasileñas y de los Estados Unidos de América son cumplidos, (a) la CVM retirará el registro de Embratel Holdings como empresa pública y requerirá deslistar las acciones comunes y preferentes de Bovespa, (b) TELMEX instruirá a Embratel Holdings para liquidar en efectivo, al precio de la oferta pública, las acciones que no hayan sido adquiridas en la oferta, y (c) TELMEX instruirá a Embratel Holdings para deslistar los ADSs en el New York Stock Exchange, finalizar el Acuerdo Depositario de los ADSs emitidos y finalizar su obligación de reportar sus actividades de acuerdo a las U.S. securities laws. Cada uno de estos pasos están sujetos a diferentes requerimientos legales que serán descritos en la notificación y el documento de la oferta pública. Si los requisitos de cada paso se cumplen, dependerá en parte del número de acciones adquiridas en la oferta pública Conforme al artículo 4, sección 4 de la ley No. 6,404/76 y la instrucción No. 361/02 de la CVM, TELMEX contrató al Banco ABN AMRO Real S.A. para elaborar un reporte de valuación (laudo de avaliação) en relación con Embratel Holdings con fecha del 1 de mayo de 2006 (Reporte de Valuación). TELMEX registrará el Reporte de Valuación ante la CVM y en Bovespa el 9 de mayo de Por resolución del Artículo 4-A de la Ley No. 6,404/76 y de los Artículos 23 and 24 Instrucción 361/02 de la CVM, el Reporte de Valuación y la forma de notificación de la oferta pública pueden ser consultadas en las siguientes direcciones: COMISSÃO DE VALORES MOBILIÁRIOS Rua Sete de Setembro, nº 111, 5th floor, Centro de Consultas, Rio de Janeiro, RJ Rua Formosa, nº 367, 20th floor, Centro, São Paulo, SP, BOLSA DE VALORES DE SÃO PAULO - BOVESPA Rua XV de Novembro, 275, São Paulo, SP, TELÉFONOS DE MÉXICO, S.A. DE C.V. Parque Vía 198, Oficina 701 Colonia Cuauthtémoc México, D.F., C.P Mexico EMBRATEL PARTICIPAÇÕES S.A. Rua Regente Feijó, no. 166, Office 1687-B Centro, Rio de Janeiro RJ, Página [2]

7 ComunicadodePrensa UNIBANCO - UNIÃO DE BANCOS BRASILEIROS S.A. Av. Eusébio Matoso, 891, 20th floor Pinheiros, São Paulo, SP, TELMEX es la empresa líder de telecomunicaciones en México. TELMEX y sus subsidiarias ofrecen una amplia gama de servicios de comunicación, transmisión de datos y vídeo, acceso a Internet, así como soluciones integrales de telecomunicaciones a sus clientes corporativos. Asimismo, a través de sus filiales internacionales ofrece servicios de telecomunicaciones en Argentina, Brasil, Chile, Colombia y Perú. Información de TELMEX se puede encontrar en Embratel Participações S.A. es la compañía tenedora de Embratel, un proveedor líder de telecomunicaciones que ofrece soluciones integrales a clientes corporativos y servicios a clientes residenciales en Brasil. Los servicios que proporciona Embratel incluye: outsourcing, transmisión de datos de alta velocidad, Internet, redes corporativas, servicios avanzados de voz, local y larga distancia Nacional e internacional. Embratel opera una red de vanguardia con cobertura a nivel nacional y tiene presencia en las principales ciudades de Brasil. Asimismo, tiene el control de TELMEX do Brasil, proveedor de telecomunicaciones al mercado corporativo y posee el 37.11% de Net Serviços, operador líder de televisión de paga en Brasil. Página [3]

8 PressRelease TELMEX ANNOUNCES CASH TENDER OFFER FOR SHARES OF EMBRATEL Mexico City, May 8, Teléfonos de México, S.A. de C.V. (TELMEX) (BMV: TELMEX; NYSE: TMX; NASDAQ: TFONY; LATIBEX: XTMXL) announced today that, through a ian subsidiary, TELMEX will make a cash tender offer for any and all outstanding publicly held common and preferred shares of Embratel Participações S.A. (Embratel Holdings). The price will be 6.95 ian reais per 1,000 shares, plus indexation as described below, for both common shares and preferred shares. TELMEX currently owns 72.4% of the outstanding shares of Embratel Holdings, including 97.3% of the common shares and 45.5% of the preferred shares. Unibanco União de Bancos Brasileiros S.A. will act as the intermediary institution for the tender offer in. The commencement of the tender offer is subject to registration by the Commissão de Valores Mobiliários (CVM), the ian stock exchange regulator. TELMEX will commence the offer by publishing a Notice of Tender Offer (edital) in after the CVM approves the registration of the tender offer. TELMEX intends to submit a request for registration to the CVM on May 9, 2006, but it cannot predict the date on which it will be able to commence the tender offer. The tender offer will be classified as a mandatory public tender offer for the purchase of all outstanding shares, for the purpose of canceling the registration of Embratel Holdings as a public company under Article 21 of ian Law No. 6,385/76, pursuant to Article 4, section 4 of Law No. 6,404/76 and CVM Instruction No. 361/02. This announcement is made pursuant to CVM Instruction No. 358/02. The tender offer will also be open to all holders of shares in the United States, including holders of preferred shares represented by American Depositary Shares (ADSs). Arrangements will be made for holders of ADSs to tender through a receiving agent in the United States and to be paid the purchase price in U.S. dollars based on exchange rates prevailing at the time of payment. Upon commencement of the tender offer, TELMEX will publish a tender offer statement and file it with the U.S. Securities and Exchange Commission (SEC). Holders of Embratel Holdings shares and ADSs should read the tender offer statement, because it will contain important information about the tender offer. The tender offer statement will be available free of charge at the website of the SEC and from TELMEX. The tender offer will be for any and all outstanding common shares and preferred shares, and the offer price will be 6.95 ian reais per 1,000 shares, indexed to the Taxa Referencial (an interest rate published by the Central Bank of ) from today through the settlement of the tender offer. The tender offer will be subject to certain conditions. As required by ian law, TELMEX may be required to accept less than all shares tendered, and to prorate tendering holders, under limited circumstances that will be described in the Notice of Tender Offer and the tender offer statement. The purchase price is approximately 31% greater than the closing price of the common shares and 26% greater than the closing price of the preferred shares of Embratel Holdings on Friday, May 5, The purchase price is also approximately 35% greater than the weighted average price of the common shares and 30% greater than the weighted average price of the preferred shares of Embratel Holdings on the São Paulo Stock Exchange (Bovespa) for the 30 days through May 5, Page [1]

9 PressRelease Following the offer, if the applicable requirements of ian and U.S. law are met, (a) the CVM will withdraw the registration of Embratel Holdings as a publicly traded company and require the delisting of the common shares and the preferred shares from Bovespa, (b) TELMEX will cause Embratel Holdings to redeem for cash at the tender offer price any shares that have not been purchased in the tender offer, and (c) TELMEX will cause Embratel Holdings to terminate the listing of the ADSs on the New York Stock Exchange, to terminate the Deposit Agreement under which the ADSs are issued, and to terminate its reporting obligations under the U.S. securities laws. Each of these steps is subject to different legal requirements, which will be described in the Notice of Tender Offer and the tender offer statement. Whether the requirements for each step are met will depend in part on the number of shares purchased in the tender offer. For purposes of Article 4, section 4 of Law No. 6,404/76 and CVM Instruction No. 361/02, TELMEX retained Banco ABN AMRO Real S.A. to prepare a valuation report (laudo de avaliação) with respect to Embratel Holdings, which is dated May 1, 2006 (Valuation Report). TELMEX will submit the Valuation Report to the CVM and to Bovespa on May 9, For purposes of Article 4-A of Law No. 6,404/76 and of Articles 23 and 24 of CVM Instruction 361/02, the Valuation Report and a form of the Notice of Tender Offer may be consulted at the following addresses: COMISSÃO DE VALORES MOBILIÁRIOS Rua Sete de Setembro, nº 111, 5th floor, Centro de Consultas Rio de Janeiro, RJ, Rua Formosa, nº 367, 20th floor, Downtown, São Paulo, SP, BOLSA DE VALORES DE SÃO PAULO - BOVESPA Rua XV de Novembro, 275, São Paulo, SP, TELÉFONOS DE MÉXICO, S.A. DE C.V. Parque Vía 198, Oficina 701 Colonia Cuauthtémoc México, D.F., C.P Mexico EMBRATEL PARTICIPAÇÕES S.A. Rua Regente Feijó, no. 166, Office 1687-B Centro, Rio de Janeiro RJ, UNIBANCO - UNIÃO DE BANCOS BRASILEIROS S.A. Av. Eusébio Matoso, 891, 20th floor Pinheiros, São Paulo, SP, Page [2]

10 PressRelease TELMEX is the leading telecommunications company in Mexico. TELMEX and its subsidiaries provide a wide range of telecommunications services, data and video transmission and Internet access, as well as integrated telecommunications solutions to its corporate customers. Additionally, it offers telecommunications services through its international subsidiaries in Argentina,, Chile, Colombia and Peru. More information about TELMEX can be accessed on the Internet at Embratel Participações S.A. is the holding company of Embratel, a leading integrated telecommunications provider offering solutions to business and services to residential customers all over. Service offerings include: outsourcing, high-speed data communications, Internet, corporate networks, advanced voice and international, domestic and local telephony. Embratel operates a proprietary state-of-the-art network with countrywide coverage and presence in s main metropolitan areas. It also controls TELMEX do Brasil, a corporate business telecommunications provider and has a percent economic interest in Net Serviços, s leading pay TV operator. Page [3]