Telmex Internacional, S.A.B. de C.V. intends to delist from the NYSE and Latibex and terminate its ADR programs
(Mexico City, August 5, 2010)—Telmex Internacional, S.A.B. de C.V. (“Telint” or the “Company”) (BMV: TELINT; NYSE: TII; LATIBEX: XTII) intends to delist its American Depositary Shares (ADSs) from the New York Stock Exchange (“NYSE”) and the Mercado de Valores Latinoamericanos en Euros in Madrid, Spain (“Latibex”) and to terminate its American Depositary Receipt (“ADR”) programs. Telint’s shareholders approved the decision at its general extraordinary shareholders’ meeting held on August 4, 2010, in Mexico City.
The main purpose of delisting is to reduce complexity in financial reporting and administrative costs following the completion of the recent tender offer for Telint shares by América Móvil, S.A.B. de C.V. (“América Móvil”).
Today, Telint will provide written notice to the NYSE of its intent to delist. Telint plans to file the related Form 25 with the SEC on or about August 16, 2010 and expects the delisting to become effective ten days later, after which Telint’s ADSs will no longer be traded on the NYSE. After the delisting, Telint shares will continue to be traded on the Bolsa Mexicana de Valores (the “Mexican Stock Exchange”).
Telint and América Móvil have not yet determined whether or when they will seek to delist the shares from the Mexican Stock Exchange. Also today, Telint will provide written notice to The Bank of New York Mellon of the termination of its ADR programs. Consequently, The Bank of New York Mellon will provide 30 days’ notice of termination to all holders of ADRs. Holders are entitled to surrender their ADSs to The Bank of New York Mellon, as depositary, for cancellation and receive the underlying Telint shares. After the 3-month period following the termination of the ADR programs, the depositary may sell the underlying shares and hold the cash proceeds uninvested for delivery to an ADR holder against surrender of the ADR.
Telint will continue to be registered under the U.S. Securities Exchange Act of 1934 (the “Exchange Act”) for the time being, and the Company will continue to comply with its obligations under the Exchange Act. Once the delisting has become effective and the Company meets the criteria for terminating its reporting obligations under the Exchange Act, it intends to file Form 15F with the Securities and Exchange Commission (“SEC”) in order to deregister all classes of its registered securities. Immediately upon filing Form 15F Telint’s duty to file reports under the Exchange Act will be suspended, and deregistration is expected to become effective 90 days later.
Telint reserves the right, for any reason, to delay these filings or to withdraw them prior to their effectiveness, and to otherwise change its plans in this regard.
About Telint
Telint is a Mexican holding company with subsidiaries located in Brazil, Colombia, Argentina, Chile, Peru and Ecuador. It aims at providing a wide variety of telecommunication services, including voice, data, video transmission, paid cable and satellite television, internet access and complete telecommunication solutions as well as the services related to the yellow page directories in Mexico, USA, Argentina, Colombia and Peru.
Forward-Looking Statements
Certain statements contained in this press release may constitute “forward-looking statements”. All statements in this press release, other than those relating to historical information or current condition, are forward-looking statements. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. Among other risks, there can be no guarantee that Telint will be able to fulfill the criteria required for delisting and deregistering its securities under applicable U.S. law. If these or other risks and uncertainties materialize, or if the assumptions underlying any of these statements prove incorrect, Telint’s future actions may be materially different from those expressed or implied by such statements. Telint can offer no assurance that its expectations will be met. Telint undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
