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 moreVolante shares trashed again
Stan Beer
Thursday, 01 December 2005 15:14
Shares in box mover and IT services company, Volante Group (ASX:VGL), were trashed again yesterday diving to a new 12 month low.
Yesterday's closing share price of 81.5c, a drop of 3.5c in a day of heavy selling, takes Volante's market valuation to less than half of what the company was worth in January this year, when shares were at $1.70.
The downward slide was triggered late last month when the company issued a profit warning for the half ended 31 December 2005. Bottom learning earnings are expected to be down by up to 39% for the half due to slow box sales. Volante is moving the focus of the company to services.
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