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For Immediate Release -- August 11, 2000
COMPANY: AT&T Latin America Corp.
FORM TYPE: 425
DOCUMENT DATE: AUGUST 11, 2000
FILING DATE: AUGUST 11, 2000
Pursuant to Rule 425 under the Securities Act of 1933
Subject Company: AT&T Latin America Corp.
Commission File No.: 333-42176
For Further Information:
Lydia R. Rodriguez Dan Lawler Leonardo Santiago
AT&T Latin America AT&T Corp. Brainerd Communications
305-774-2368 (office) 908-221-2219 (office) 212-986-6667
305-613-6767 (cell) 888-602-5418 (pgr) [email protected]
[email protected] [email protected]
FIRSTCOM CORPORATION ACHIEVES REQUISITE CONSENTS
IN TENDER OFFER AND CONSENT SOLICITATION FOR ITS 14%
SENIOR SUBORDINATED NOTES DUE 2007
Miami, FL (August 11, 2000) -- AT&T Latin America Corp., a subsidiary of AT&T
Corp., and FirstCom Corporation announced today, in connection with FirstCom's
tender offer and consent solicitation for its outstanding 14% Senior
Subordinated Notes due 2007, that FirstCom has received duly executed and
unrevoked consents to the proposed amendments to the indenture under which the
Senior Subordinated Notes were issued from all of the holders of the notes
outstanding. Receipt of these consents is a condition to the previously
announced merger of FirstCom and AT&T Latin America.
As of the expiration of the consent period at 11:59 p.m., New York City time, on
August 10, 2000, $150,000,000 in aggregate principal amount of the Senior
Subordinated Notes had been tendered and consents had been delivered,
representing 100% of the total Senior Subordinated Notes outstanding.
As described in FirstCom's Offer to Purchase and Consent Solicitation, FirstCom
solicited consents to permit the merger and to make certain amendments to the
indenture under which the Senior Subordinated Notes were issued, including the
elimination of substantially all of the restrictive covenants and certain of the
events of default. The
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closing of the tender offer and consent solicitation by FirstCom is subject to
the completion of the merger. FirstCom shareholders are scheduled to vote on the
merger on August 28, 2000.
As previously announced, the time at which the tender offer expires is 11:59
p.m., New York City time, on August 24, 2000, unless extended.
Salomon Smith Barney is the dealer manager and solicitation agent and
ChaseMellon Shareholder Services, L.L.C. ChaseMellon is the information agent
for the tender offer and the solicitation. Requests for documentation should be
directed to ChaseMellon at (917) 320-6286 (for bankers and brokers) and (888)
566-9474 (for others). Questions regarding the transaction should be directed to
Salomon Smith Barney at 800-558-3745.
This announcement is not an offer to purchase, a solicitation of an offer to
purchase or a solicitation of consent with respect to any Notes. The tender
offer and consent solicitation are being made solely by the Offer to Purchase
and related Letter of Transmittal and Consent, dated July 28, 2000.
ABOUT AT&T LATIN AMERICA
In November 1999, AT&T Corp. announced plans to form AT&T Latin America, a
company that will merge the operations of Netstream, the Brazilian competitive
local exchange carrier it acquired, and FirstCom, a publicly traded company with
operations in Chile, Colombia and Peru.
AT&T Latin America will provide technologically advanced first mile data and
voice connectivity, while providing the knowledge and experience to partner with
business customers to make a lasting difference. It will establish a full range
of quality business services, one-stop shopping and customer service in
countries where it operates.
ABOUT AT&T CORPORATION
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
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and Peru. With annual revenues in 1999 of $38 million 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.
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.
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.
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