Star Cable Network To Be Delisted Via Tender Offer

Star Cable Network, a Nagoya-based CATV operator, announced that Star Cable Network approved a tender offer from Community Network Center Inc (CNCI)., a private Nagoya-based holding company of 8 CATV operators. The TOB price is set at 79,300 yen, a 74.7% premium over its 3-month average. Star Cable will be delisted upon the successful outcome of the deal. CNCI is the third largest CATV operator behind J:Com and JCN.