Business Services Industry
Sovereign stuff.
Australasian Business Intelligence, August, 2001
Aug 23, 2001 (BRW
ABIX via COMTEX) -- Cable & Wireless Optus is the subject of a takeover proposal from Singapore Telecommunications. The attitude of the Australian Government on the takeover proposal may not be known until late in September 2001. The speculation is that the Australian Foreign Investment Review Board is in favour of the deal. The executive chairman of the Seven Network, Kerry Stokes, does not intend to relax his campaign against the takeover. Some details of the $A14bn takeover offer will be presented to the Seven Network by the Australian Government. Cable & Wireless Optus believes that the objections of the Seven Network are linked to its plans for the B Digital operation as well as its plans for the C7 pay-TV operation.
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