Hungarian alternative operator Invitel Holdings (formerly Hungarian Telephone and Cable Corp [HTCC]) has announced its intention to delist its American Depositary Shares from the NYSE Amex stock exchange. Its statement went on to say that following the delisting, which is expected to be completed on 18 February 2010, Invitel Holdings, backed by Mid Europa Partners, will take the necessary steps to deregister from the US Securities and Exchange Commission and to cease reporting under the Securities Exchange Act (1934), as amended.
Earlier this month CommsUpdate reported Mid Europa Partners extended its tender offer to purchase ‘any and all of the outstanding ordinary shares’, and ‘any and all of the American Depositary Shares’, of Invitel Holdings. The offer and withdrawal rights expired at midnight, New York City time, on Friday 22 January 2010, unless further extended. All other terms and conditions of the offer, including the offer price of USD4.50 per Invitel share or Invitel ADS, remain unchanged.