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Telecommunications Seven backs WiMAX with $118m bid for Unwired
Telecommunications Seven backs WiMAX with $118m bid for Unwired | Seven backs WiMAX with $118m bid for Unwired |
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| by Stuart Corner | |
| Thursday, 27 September 2007 | |
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Page 2 of 2 In addition to this, CEO David Spence admitted recently that delays in the availability of both network and customer devices supporting th mobile WiMAX standard IEEE802.16e, had set Unwired's plans back by around 12 months. Featured Whitepaper
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The Directors of Unwired (other than co-founder Chris North who excused himself from consideration of the offer as he provides consulting services to Seven) say they intend to unanimously recommend Unwired shareholders accept the offer in the absence of a superior proposal. Seven holds 34 percent of VoIP provider, Engin, which recently bought a 19.8 percent stake in Unwired, funded with loans from Seven. The takeover offer is being made though a wholly-owned subsidiary of Seven, Network Investment Holdings Pty Ltd. The 45 cents per share offer price values Unwired at around $118 million.{moscomment} |
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