Feb 20 (Reuters) - Terracom Ltd TER.AX :
* UPDATES ON BID BY TERRACOM LIMITED
* BID COMMITTEE PREPARING FOR COMMENCEMENT OF LEGAL PROCEEDINGS REFERRED TO IN 17 FEB ANNOUNCEMENT
* MAINTAINS RECOMMENDATION THAT UNIVERSAL SHAREHOLDERS TAKE NO ACTION
Feb 20 (Reuters) - Terracom Ltd TER.AX :
* UPDATES ON BID BY TERRACOM LIMITED
* BID COMMITTEE PREPARING FOR COMMENCEMENT OF LEGAL PROCEEDINGS REFERRED TO IN 17 FEB ANNOUNCEMENT
* MAINTAINS RECOMMENDATION THAT UNIVERSAL SHAREHOLDERS TAKE NO ACTION