OpenTV to redeem remaining shares

Interactive TV technology company OpenTV has begun the process of redeeming all of its Class A ordinary shares that are not owned by controlling shareholder Kudelski.

Following its recent acquisition of the majority of the shares in OpenTV that it did not already own, Switzerland-based Kudelski has recommended that OpenTV redeem the shares for US$1.55 (€1.07) a share. The interactive TV company, which is incorporated in the British Virgin Islands, has filed a Schedule 13E-3 transaction statement and associated documentation with the US SEC relating to the move.