No. 1 Story
ACCC clears Optus to scrap HFC network and use NBN instead
The ACCC has cleared, provisionally, the proposed deal between Optus and NBN Co under which Optus is to be paid around $800m to shut down its HFC network and transfer customers onto the NBN. read moreOpen Tel to focus on OSS, hive off switching business
Stuart Corner
Tuesday, 25 October 2005 18:37
It has given no indication of the funds required, or of when and how it intends to raise these.
The company says it will seek a strategic partner "who is in a better position to leverage the switching division" and that this could result in a sale of the division, its product or possibly some other type of strategic alliance or co-operative effort.
In the meantime "the switching division's cost structure will be reduced, and a number of new initiatives considered in order to take advantage of the opportunities of the OSS business."
Open Tel's 2005 first half year consolidated net loss after tax was $3.4 million and it anticipates a loss of between $0.6m and $1.6m for the six months to 31 December 2005, bringing the total consolidated net loss after tax for the year ending 31 December 2005 to between $4m and $5m.
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