MDTV Executes Letter of Interest with Vicom, Inc.
TOTOWA, N.J.--(BUSINESS WIRE)--Dec. 6, 2002--MDU Communications International, Inc. (OTCBB:MDTV) today executed an unsolicited Letter of Interest received from Vicom, Incorporated (Nasdaq:VICM), a Minneapolis based technology and media content provider, to explore the potential merger of the two companies. The terms of the Letter of Interest propose a stock for stock merger, with Vicom being the surviving entity. Such a merger would be conditional on due diligence, acceptable valuation and MDTV Board and shareholder approval. The Board of Directors of MDTV authorized the execution of the Letter of Interest to explore the potential of such a merger and to begin due diligence in an effort to fully evaluate the benefits of such a transaction.
About MDU: MDU Communications International, Inc. (OTCBB:MDTV) is a leading provider of premium communication/information services, including digital satellite television and high-speed (broadband) Internet services, exclusively to the United States multi-dwelling unit (MDU) marketplace - estimated to include 26 million residences. Through its wholly owned subsidiary, MDU Communications (USA) Inc., MDTV delivers DIRECTV(R) digital satellite television programming and high-speed (broadband) Internet systems and is committed to delivering the next generation of interactive communication services to MDU residents. For additional information, please see www.mduc.com or contact Investor Relations.
The Company's filings, including current financial reports, can be accessed through the EDGAR database at www.sec.gov.
CONTACT:
MDU Communications International, Inc.
Sheldon Nelson, 973/237-9499
Email: investor@mduc.com
Website: www.mduc.com
SOURCE: MDU Communications International, Inc.
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12/06/2002 16:01 EASTERN |
