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Dixons says 18% of exchangeable converted to Wanadoo stock
New York, April 1 - Dixons Group plc said that holders of €46.552 million or 18% of the outstanding €260 million principal amount of its 1% bonds exchangeable into Wanadoo SA stock have exercised the conversion option.
As a result, €213.448 million remains outstanding.
Dixons noted in a news release that France Telecom SA has made a public offer for the shares of Wanadoo.
Under the terms of the bonds, Dixons may accept any option available to the public but is not required to do so. The company added that it is not making a recommendation as to the action bondholders should take.
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