October 11, 2016 / 5:46 AM / 10 months ago

BRIEF-Inteliwise negotiates acquisition of 100 pct in Limtel

Oct 11 (Reuters) - Inteliwise SA :

* Said on Monday that on Sept. 21 it submitted a preliminary proposal to buy 100 pct in Limtel Sp. z o.o. (Limtel)

* Said submitted the preliminary proposal to buy Limtel to Giza Polish Ventures I Sp. z o.o. SKA (Giza) and Krajowy Fundusz Kapitalowy SA in connection with Giza's information request on possibility and conditions for purchase of shares in Limtel from Limtel's current partners

* Said the preliminary proposal to buy 100 pct in Limtel is not an offer but an invitation to negotiations

* Limtel's partners agreed for negotiations to establish conditions of Inteliwise's offer and on Oct. 10 the parties established basic conditions of the transaction

* Said the part of the transaction would be acquisition by Limtel's partners of no more than 0.6 mln newly issued Inteliwise's shares and payment by Inteliwise of 0.1 mln zlotys in cash

* Said the condition for further negotiations and placing of the final offer is consent of Inteliwise's shareholders for capital increase through creation of conditional capital and the subscription warrants issue

* Says acquisition of Limtel will strengthen its group's product offering, particularly in the area of the automation technology and the use of AI (Artificial Intelligence) within the call centre, chat live and chatbot

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