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.
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Stan Beer
Wednesday, 14 September 2005 20:06
The directors of the board IT solutions company Alphawest (ASX:ALW) have unanimously accepted a bid by Singtel Optus to buy the company for more than $24 million.
On 21 July 2005, SingTel Optus Pty Limited announced a takeover bid, through its wholly owned subsidiary Optus Networks Pty Limited, to acquire all of the issued shares of Alphawest Limited (Alphawest) for 68 cents cash per share, valuing the company at $24.24 million.
In a letter to shareholders, the directors of Alphawest recommended unanimously that the offer be accepted.
The key reasons given for the directors' recommendation were that the price offered by Optus was a significant premium to the average trading price before the offer, the stock is relatively illiquid and therefore difficult to sell, there will be no brokerage fees with the sale and there will be no dividend paid for the period ended 30 June 2005.
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