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Equinix update on Telecity offer

23 October 2015 07:58

Equinix has confirmed that the European Commission has entered into a period of market testing based upon commitments proposed by Equinix and Telecity Group.

These commitments have been proposed with a view to obtaining EU Commission phase 1 clearance of the previously announced offer by Equinix for Telecity. As a result of this development, the European Commission's phase I review timetable is automatically extended by 10 working days to 13 November.

Equinix says that while there can be no assurances, as a result of these commitments it is of the view that there is a good prospect that the proposed transaction will be cleared by the European Commission during its phase I review.

If that happens the pre-conditions to the offer will be satisfied and the relevant shareholder and scheme of arrangement votes will be sought from Telecity shareholders thereafter.

Although there can be no assurances, this would allow the offer to close in line with the previously communicated guidance of H1 2016.

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