SAO PAULO, April 23, 2014 /PRNewswire/ -- Net Servicos de Comunicacao S.A. ("NET" or the "Company") (BOVESPA: NETC3 and NETC4; BMAD: XNET) today announced that it intends to file a Form 15F with the United States Securities and Exchange Commission (the "SEC") in order to terminate the registration of all classes of its registered securities under section 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). NET expects that this termination of registration will become effective 90 days after its filing with the SEC. As a result of this filing, NET's reporting obligations with the SEC, including its obligations to file annual reports on Form 20-F and reports on Form 6-K, will be suspended immediately.
NET is current with its reporting requirements under the Exchange Act.
The main purpose of terminating registration is to reduce complexity in financial reporting and administrative costs following the completion of the recent tender offer for NET shares by Embratel Participacoes S.A.and Empresa Brasileira de Telecomunicacoes S.A. – Embratel.
NET reserves the right, for any reason, to delay this filing or to withdraw it prior to its effectiveness, and to otherwise change its plans in this regard.
For further information visit: http://ir.netservicos.com.br
SOURCE Net Serviços de Comunicação S.A.