Verizon Commences Tender Offer for all Outstanding Shares of Terremark Worldwide for $19 per Share

Verizon Communications Inc. (NYSE, Nasdaq: VZ) today announced the commencement of the tender offer for all outstanding shares of Terremark Worldwide, Inc. TMRK for $19.00 per share in cash without interest and less any required withholding taxes. The tender offer is being made by Verizon Holdings Inc., a wholly owned subsidiary of Verizon, pursuant to a previously announced Agreement and Plan of Merger, dated as of Jan. 27, 2011, by and among Verizon, Verizon Holdings Inc. and Terremark.