Fels hoses down expectations for Foxtel-Optus merger.

Australasian Business Intelligence, July, 2002

Jul 31, 2002 (The Age

ABIX via COMTEX) -- Regulatory approval is by no means assured for Foxtel's revised proposal for program sharing with Singtel Optus. On 31 July 2002, the chairman of the Australian Competition & Consumer Commission (ACCC), Allan Fels, said there was "no guarantee" that the $A1.3bn deal between the pay television operators would go ahead, and that the ACCC had simply said it would consider whether the new undertakings were sufficient to allay its concerns. The ACCC is understood to be concerned that Foxtel's new undertakings in regard to the deal could be difficult to legally enforce.

Publication Date: 1 August 2002

FOXTEL: SINGAPORE TELECOMMUNICATIONS LIMITED

- ASX SGT:

SINGTEL OPTUS PTY LTD: ...

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