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.
Pacific Internet has released details of the recommendations of BNP Paribas Peregrine (Singapore), the financial adviser appointed to assist it in identifying and evaluating options for maximising shareholder value.
The appointment was made after regional VoIP provider, MediaRing, announced a takeover offer for the company. Pacific Internet last week rejected that offer.
BNP Paribas' recommendations in summary are:
PacNet to remain an independent entity and implement the strategy it announced in May to become, over the next five years, an 'IP-based communications and solutions provider' by strengthening its core competencies and capitalising on the anticipated growing importance of various broadband Internet technologies.
- Pursue appropriate merger and acquisition opportunities with suitable strategic or merger partners that can add value.
PacNet said that BNP Paribas had initiated contacts with, and had been approached by, multiple parties with a view to exploring possible merger and acquisition initiatives.
PacNet said it would "continue to implement its strategic plan while concurrently exploring all possible strategic options, including those outlined by BNP Paribas, to maximise shareholder value."
David Bass
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