NTS's share price rose 26.3% on the TASE and 23.4% at the opening on the AMEX to $1.95 after the acquisition by Tower Three Partners LLC.
NTS Inc.x (AMEX: NTS; TASE; NTS) (formerly Xfone) will be acquired by affiliates of private equity firm Tower Three Partners LLC, after which it will be delisted. Tower Three will pay $2 per share in cash for the company, excluding shares held by NTS chairman and CEO Guy Nissenson, a 26% premium on today's opening price on the American Stock Exchange, and reflecting a company value of $83 million.
NTS's share price rose 26.3% on the TASE and 23.4% at the opening on the AMEX to $1.95.
NTS is the latest incarnation of Xfone, which until a few years ago, had three unrelated businesses: an international calls carrier in Israel, under the 018 prefix; international calls carrier in the UK under the Swiftnet label; and the establishment of communications infrastructures in the US. In 2010, it sold its Israeli business for $5 million, and its UK businesses for $3.5 million, and kept its US operations.
Published by Globes [online], Israel business news - www.globes-online.com - on October 21, 2013
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