STOCK EXCHANGE ANNOUNCEMENT
Announcement no. 30 - 2006/07 March 22, 2007
EU Commission approves Nera SatCom acquisition
Summary: The EU Commission has informed Thrane & Thrane that the acquisition of
Nera SatCom does not involve any competitive issues. Thrane & Thrane continues
the ongoing integration process.
In October 2006, Thrane & Thrane completed the acquisition of Norwegian company
Nera SatCom AS and its German subsidiary European Satellite Link GmbH. Prior to
completing the acquisition Thrane & Thrane obtained approvals from the European
competition authorities following mandatory notifications of the acquisition.
Some countries operate a system of voluntary notification, and their regulatory
bodies may elect to investigate the matter after the acquisition has been
completed. The UK competition authorities used this option and asked the EU
Commission for an assessment of Thrane & Thrane's acquisition of Nera SatCom.
The EU Commission informed Thrane & Thrane that notification of the transaction
had to be given to the Commission following which the Commission would make a
decision.
Thrane & Thrane submitted a notification to the EU Commission at the beginning
of February, 2007. Based on this, the Commission has informed Thrane & Thrane
that the acquisition of Nera SatCom does not involve any competitive issues.
Thrane & Thrane will therefore continue the process of integrating Nera SatCom.
It is still expected that Nera SatCom will be fully integrated into Thrane &
Thrane by the late summer of 2007.
For further information, please contact
John Alexandersen, VP Corporate
Communications
Tel.: +45 39 55 88 35 or +45 22 72 38 22
E-mail: investor@thrane.com
About Thrane & Thrane
Thrane & Thrane is the world's leading manufacturer of
terminals and land earth stations for global mobile satellite and radio
communication. Since its incorporation in 1981, the company has established a
strong position within global mobile satellite services based on the Inmarsat
system, and today it provides equipment for land-based, maritime and
aeronautical use. The company's communication products are sold throughout the
world under the brands Thrane & Thrane, Nera and SAILOR through distributors and
partners and as OEM products. The company is listed on the Copenhagen Stock
Exchange. More information about Thrane & Thrane can be found at:
www.thrane.com.
