Telstra has revealed the addition of almost one million new mobile services in the six months to December 2011, but Sensis revenues plummeted 24 percent in 12 months.
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.
The offer, however will give no return to any founding Unwired shareholders who remain on the register: it barely covers the $106 million Unwired paid for its 15 year spectrum licences back in 2001, and the company has never made a profit.
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.
David Bass
| For the fourth year in a row, IDC has placed content security provider Websense (NASDAQ: WBSN) at the top of the IDC Worldwide Web Security 2011 –…
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