Following the OFT's recent decision to refer the anticipated Joint Venture between LINK Interchange Network Limited ("LINK") and Transaction Network Services (UK) Limited ("TNS") to the Competition Commission, the Directors of LINK and TNS have decided not to proceed with the proposed partnership arrangement.
Further information will be published in due course.
Contact information
Scott Housley, Head of Corporate Relations, LINK.
Tel. 01423 356000
Karl Shields, Planning and Business Development Director, LINK.
Tel. 01423 356000
Information for Editors
About LINK
LINK Interchange Network Ltd provides electronic transaction management services on behalf of the UK's largest financial institutions and other commercial organisations. LINK manages the LINK ATM network, the world's busiest shared ATM network with over 54,800 cash machines deployed and over 101 million LINK-enabled cards in issue. LINK also manages transactions for the basic bank accounts that form part of the Post Office's universal banking services programme and has implemented an ATM prepay topup service on behalf of mobile phone operators. LINK's outsourcing division, ATMOS, is Europe's leading provider of outsourced transaction management services. LINK is pursuing opportunities to use its proven, secure and reliable network infrastructure to support a new generation of transaction management services, including overseas developments.
About the TNS Group:
Transaction Network Services is one of the leading providers of business-critical, cost-effective data communications services for transaction-oriented applications. TNS provides rapid, reliable and secure transaction delivery platforms to enable transaction authorisation and processing across several vertical markets and trading communities. Since its inception in 1990, TNS has designed and implemented multiple data networks, each designed specifically for the transport of transaction-oriented data. TNS networks support a variety of widely accepted communications protocols and are designed to be scalable and accessible by multiple methods. TNS network technologies have been deployed in the United States and internationally, and TNS networks have become preferred networks servicing the trading community, wireless and wireline carriers, and the card processing and dial-up automated teller machine markets. For further information about TNS transaction solutions, please refer to www.tns-international.com
This press release may contain various remarks about the future expectations, plans and prospects of TNS that constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. TNS' actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed under the heading "Risk Factors" in TNS' Registration Statement on Form S-1 filed with the U.S. Securities and Exchange Commission on September 28, 2004, which may be accessed at www.sec.gov or TNS' investor relations web page available at www.tnsi.com. TNS disclaims any obligation to update or correct any forward-looking statements made herein due to the occurrence of events after the issuance of this press release.
