Redington India has received communication from its step down
subsidiary Arena Bilgisayar Sanayi Ve Ticaret A.S. ('Arena'), Turkey that -
1. The Board of Directors of Arena has authorised its Chief Executive Officer, Serkan lik, to approach Brightstar Telekomikasyon Dat i. (Brightstar Turkey) and commence preliminary discussions regarding the potential acquisition of upto 100% of Brightstar Turkey from Brightstar Corp. and its affiliates.
2. Currently, Brightstar Turkey's operations primarily consist of value-added distribution of leading brands of smartphones, devices, consumer electronics and accessories to telecom operator(s).
3. Arena believes that the potential acquisition of Brightstar Turkey could deliver significant strategic value to Arena.
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