Object of TE’s Call Option. Object of the TE’s Call Option shall be all (but not just part of) Telco’ shares held by AG, IS and MB at the time of the TE’s Call Option Notice. In any event where one or more of the current Class A shareholders of Telco ceases to be shareholders of Telco or exercises its De-merger Option, this will not affect the TE’s Call Option, which will remain valid in relation to the shareholdings of the other Class A shareholders.
