CompleTel Europe Announces That Its I.P.O. Underwriters Have Exercised Option to Purchase 4,080,000 Additional Shares.Business Editors PARIS--(BUSINESS WIRE)--March 31, 2000 CompleTel Europe N.V. (Nasdaq NM:CLTL CLTL Common Lisp the Language (book by Guy L. Steele) CLTL Chemical Leaman Tank Lines, Inc (Gloucester County, New Jersey) ; ParisBourse: CTL See control key. 1. CTL - Checkout Test language. 2. CTL - Compiler Target Language. 3. CTL - Computational Tree Logic ), a facilities-based provider of switched local telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. and related services to businesses and government end-users in western Europe Western Europe The countries of western Europe, especially those that are allied with the United States and Canada in the North Atlantic Treaty Organization (established 1949 and usually known as NATO). , today announced that the underwriters of the company's initial public offering of ordinary shares on March 28 have exercised their option to purchase an additional 4,080,000 ordinary shares. With the exercise of the option, the company has 157,141,060 shares outstanding. CompleTel Europe offered 27,200,000 shares in the initial public offering, representing about 17.7% of its outstanding shares. The exercise of the option, at EURO17.50 per share, resulted in additional proceeds to the company (after underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. discount) of EURO67,279,200, or approximately $65,728,800. The underwriters were Salomon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. , Goldman, Sachs & Co., Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. & Co., and BNP Paribas BNP Paribas (Euronext: BNP, TYO: 8665 ) is one of the main banks in Europe and France. It was created on 23 May 2000 through the merger of Banque Nationale de Paris (BNP) and Paribas. Group. CompleTel Europe N.V. is a growing European facilities-based competitive local exchange carrier (CLEC (Competitive Local Exchange Carrier) An organization offering local telephone service that is not one of the traditional telephone companies. The Telecommunications Act of 1996 allowed competition to the incumbent telcos (ILECs), enabling new companies (CLECs) ). Founded in 1998, CompleTel provides voice and data telecommunications and Internet-related services in Western Europe. CompleTel is initially deploying fiber-optic networks in 11 markets in France and Germany and Internet-related services in 12 markets, including London. With the proceeds of its offering, CompleTel will fund the development of fiber-optic networks in six additional cities in France and Germany, further develop its existing networks, and fund expansion of its Internet-related services, among other uses. CompleTel Europe, based in The Netherlands, has a headquarters office in Paris. NOTE: The information contained in this press release contains "forward looking statements" within the meaning of the U.S. Federal Securities Law. Such statements are based on the current expectations of the management of CompleTel only, and the company's performance is subject to risks, uncertainties and other factors that could cause actual results to differ materially from these statements. Such risks include, but are not limited to, adverse regulatory, technological or competitive developments, decline in demand for the company's services or products, inability to timely develop and introduce new technologies, products and services, pressure on pricing resulting from competition, unforeseen delay, failure to receive on a timely basis necessary permits or other governmental approvals, and delays in the receipt of or failure to obtain any necessary financing which could cause the actual results or performance of the company to differ materially from those described herein. For a more detailed discussion of such risks and other factors please refer to the company's prospectuses and 10-K and 10-Q reports filed with the U.S. Securities and Exchange Commission. Paris office: Tour Egee, 9-11 allee de l'Arche, 92671 Courbevoie cedex, FRANCE +33 1 72 92 20 00 |
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