Business Services Industry
James Packer wins praise for saying sorry over One.Tel.
Australasian Business Intelligence, August, 2001
Aug 24, 2001 (The Canberra Times
ABIX via COMTEX) -- Analysts and investors remain wary over Publishing and Broadcasting's prospects following its $A84.6 net million loss for fiscal 2000-01. The result, announced on 22 August 2001, was accompanied by an apology from chairman, James Packer, over the company's investment in the failed telco One.Tel, which along with an Indian television venture resulted in a one-off $A397 million charge. Notwithstanding the uncertainty, Shaw Stockbroking has upgraded its recommendation in the belief that PBL suffered a bad year and the situation will improve. PBL shares closed at $A9.82 on 23 August 2001, down $A0.03.
PUBLISHING AND BROADCASTING LIMITED
- ASX PBL:
ONE.TEL LIMITED - ASX ONE: CROWN...
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