Universal Telecom completed the acquisition of AllTele Allmänna Svenska Telefonaktiebolaget (OM:ATEL) in a reverse merger transaction.
Furthermore, the deal is conditional upon all approvals, decisions and other actions by Government, the National Post and Telecom Agency. The deal is approved unanimously by Board of AllTele Allmänna Svenska Telefonaktiebolaget and Mark Hauschildt. Swedish competition authority approved the transaction on March 18, 2013. The founders Ola Norberg, Peter Bellgran, Thomas Nygren and Tenor SA as well as shareholder Pemberton Holdings Ltd of AllTele have committed to vote for the completion of the deal on the new extraordinary general meeting. The deal was approved by shareholders of AllTele Allmänna Svenska Telefonaktiebolaget in an extraordinary general meeting held on March 20, 2013. As of March 27, 2013, the due diligence investigations and other conditions for the deal have been fulfilled. Annika Andersson, Maria Nilsson, Erik Königsson, Ulrica Salomon, Jakob Lundström and David Frydlinger of Lindahl acted as legal advisor for Timepiece Servicos De Consultoria LDA and Mark Hauschildt. Ernst & Young AB acted as accountant and provided financial and commercial due diligence services for AllTele Allmänna Svenska.
Universal Telecom completed the acquisition of AllTele Allmänna Svenska Telefonaktiebolaget (OM:ATEL) in a reverse merger transaction on March 27, 2013.