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 back off the floor
Stan Beer
Friday, 16 December 2005 17:34
IT services and box mover Volante Group (ASX:VGL) seems to have successfully stemmed the panic sellers, as it shares have steadily climbed off the floor in the past two weeks.
Yesterday VGL shares closed at 85.5c, well off the low of 65c sparked when the company issued a downward profit revision to market.
The bottom line is that market appears to have judged that the Volante announcement was largely a one-off restructuring event and that the company, which is now more focussed on its services business, is still winning contracts. Meanwhile company chairman, Robin Crawford, has been busily buying up large clumps of shares at low prices.
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