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COMPANY: AT&T Latin America Corp.
FORM TYPE: 425
DOCUMENT DATE: JULY 27, 2000
FILING DATE: JULY 27, 2000
Pursuant to Rule 425 under the Securities Act of 1933
Subject Company: AT&T Latin America Corp.
Commission File No.: 333-42176
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For Further Information:
Lydia R. Rodriguez Dan Lawler Leonardo Santiago
AT&T Latin America AT&T Corp Brainerd Communicators
305-774-2368 (office) 908-221-2219 (office) 212-986-6667 (office)
305-613-6767 (cell) 888-602-5418 (pgr.) [email protected]
[email protected] [email protected]
SPECIAL SHAREHOLDER MEETING OF FIRSTCOM CORPORATION
SET FOR AUGUST 28TH FOR VOTE
ON MERGER WITH AT&T LATIN AMERICA;
FIRSTCOM TO INITIATE TENDER OFFER FOR ITS SENIOR NOTES
MIAMI - July 27, 2000 - AT&T Latin America Corp., a subsidiary of AT&T
Corp., and FirstCom Corporation (NASDAQ: FCLX), which plan to merge,
announced today that the registration statement filed by AT&T Latin America
relating to the merger has been declared effective by the Securities and
Exchange Commission and the FirstCom special shareholders' meeting to vote
on their planned merger was set for August 28, 2000. FirstCom expects to
mail the proxy statement on or around this Friday, July 28th. The parties
have therefore extended the outside date under the merger agreement for
completion of the merger to August 31, 2000.
"I would like to thank our shareholders for their patience throughout this
process and welcome their support to become the initial public shareholders
of AT&T Latin America," stated Patricio E. Northland, Chairman and CEO of
FirstCom. "Following approval of the merger by FirstCom shareholders and
completion of the merger, each FirstCom common share will convert into a
Class A common share of AT&T Latin America and trade on the NASDAQ National
Market System under the symbol, "ATTL".
In connection with the merger, FirstCom will initiate a tender offer to the
holders of its senior notes, subject to completion of the merger. The
tender offer will be financed through the purchase by a subsidiary of AT&T
Corp. of preferred stock in AT&T Latin America.
John Haigh, President of AT&T's International Ventures Organization stated,
"We have now leaped one of the final hurdles in the merger process. AT&T is
very excited to have the FirstCom shareholders and its management join the
AT&T Latin America team. Once we have closed the merger, AT&T Latin America
can focus all of its energy and resources on executing its business plan
and aggressively growing its operations in Latin America."
-More-
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ABOUT AT&T CORP.
AT&T Corp (www.att.com) is among the world's premier voice,
video and data communications companies, serving more than 80 million
customers, including consumers, businesses and government. With annual
revenues of more than $62 billion and 147,000 employees, AT&T provides
services to customers worldwide. Backed by the research and development
capabilities of AT&T Labs, the company runs the world's largest, most
sophisticated communications network and has one of the largest digital
wireless networks in North America.
ABOUT FIRSTCOM CORPORATION
FirstCom Corporation operates as a publicly traded (NASDAQ:
FCLX) competitive local exchange carrier in four major metropolitan
business centers in Chile, Colombia and Peru. With annual revenues in 1999
of $38MM and approximately 650 employees at year-end, FirstCom owns and
operates a technologically advanced, fiber optic IP/ATM backbone-network
and provides a wide range of integrated communications services.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: The foregoing statements involve known and unknown risks and
uncertainties that may cause AT&T Latin America and FirstCom's actual
results or outcomes to be materially different from those anticipated and
discussed in this press release. Except for historical information
contained in this press release, the matters discussed contain
forward-looking statements that involve risks and uncertainties, including
but not limited to economic, competitive, governmental and technological
factors detailed in the definitive proxy statement described below, which
readers are urged to read carefully in assessing the forward-looking
statements contained herein.
In connection with the FirstCom/AT&T Latin America merger, FirstCom
has filed a definitive proxy statement and AT&T Latin America has filed a
registration statement on Form S-4. We urge investors and security holders
to read the definitive proxy statement and registration statement before
they make a decision concerning the merger. Security holders may obtain a
free copy of those documents and other documents filed by FirstCom
Corporation at the SEC's web site at www.sec.gov. In addition, documents
filed with the SEC by FirstCom may also be obtained from FirstCom
Corporation by directing such request to FirstCom Corporation, 220 Alhambra
Circle, Coral Gables, Florida 33134, Attention: General Counsel, Thomas C.
Canfield (305) 459-6300.
The members of the board of directors of FirstCom Corporation are
Patricio E. Northland, George Cargill, Andrew Hulsh and David Kleinman. As
of the date hereof, there are no other "participants in the solicitation,"
within the meaning of Rule 14a-12 under the Securities Exchange Act of
1934, as amended. Information concerning the directors is set forth in the
Definitive Proxy Statement filed with the SEC.
This announcement is not an offer to purchase a solicitation of an
offer to purchase or a solicitation of consent with respect to any Senior
Notes.
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