BCP will launch a takeover to Axesstel Inc.

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BCP will launch a takeover to Axesstel Inc.

Mensagempor Carlos Escarigo em Segunda 06-07-2009 13:45

Lisbon - A source from Banco Comercial Português (BCP) said today that Banco Comercial Português will launch a takeover to Axesstel Inc..
Banco Comercial Português (BCP), will notifie next friday the Portuguese National Securities Market Commission (CNMV) that it was willing to waive the condition of a 75% minimum acceptance level to which its public offer for the acquisition of Axesstel Inc shares was subject, taking into consideration that the response received will be sufficient to develop the business project pursued through the takeover bid.
Banco Comercial Português (BCP) will launch a takeover bid for Axesstel Inc with the payment of $1.25 USD for each of the that responded to the tender offer, this initial offer could reach the limit of price of $1.50 USD for each share of the company.

About Banco Comercial Português :


Banco Comercial Portugues Group (BCP) is the largest banking group in Portugal in terms of number of branches and loans to customers and the second largest in terms of total assets and customer deposits (during fiscal 2008). BCP offers banking and financial services such as commercial banking, investment banking, mortgage lending, consumer credit, specialized credit, asset management and insurance. BCP has about 8700 employees and is headquartered in Porto, Portugal.

BCP offers banking and financial services in Portugal and internationally. Although BCBs operations are primarily concerned with commercial banking, it also offers additional financial services such as investment banking, mortgage lending, consumer credit, specialized credit, asset management and insurance. BCB is also engaged in a number of international activities and partnerships. BCBs commercial banking products and services include deposit-taking, short-term lending, mortgage lending, trade finance, credit cards, fund transfers, custody of securities, foreign exchange, treasury services and money market operations. BCBs domestic commercial banking activities are conducted principally through its marketing and distribution networks in Portugal. These different networks allow BCB to segment the Portuguese commercial banking market and to serve the banking needs of specific groups of customers. The principal marketing and distribution networks in Portugal are BCP Particulares e Negocios, Atlantico, NovaRede and SottoMayor, BCP private banking and BCP corporate and BCP empresas.

About Axesstel Inc :
Axesstel, Inc. engages in the design, development, manufacture, and marketing of fixed wireless voice and broadband data products for the telecommunications market worldwide. Its product portfolio includes fixed wireless phones, voice/data terminals, broadband modems, and 3G gateway devices for access to voice calling and high-speed data services in homes, retail locations, businesses, public transportation and emergency response environments. Axesstel, Inc. also provides machine to machine security devices, including AxessGuard security alarm system that pairs its phones or terminals with a security device. The company was founded in 2000 and is headquartered in San Diego, California.
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