Business Services Industry
HK fund adds $10m more to Neighbourhood.
Australasian Business Intelligence, September, 2002
Sep 12, 2002 (The Australian Financial Review - ABIX via COMTEX)
Hong Kong venture capitalist, Telecom Venture Group, has invested another $A10m in Neighbourhood Cable. This brings the fund's total investment in the regional broadband telecommunications provider, which is listed on the Australian Stock Exchange, to $A30m. Neighbourhood Cable reported a fiscal 2002 net loss of $A8m, much worse than its fiscal 2001 net loss of $A3.4m. The Hong Kong fund is also is a high-profile investor in PowerTel, another Australian-listed telecommunications entity. It also reported a loss for fiscal 2002.
Publication Date: 13 September 2002
NEIGHBORHOOD CABLE LIMITED - ASX NCA:
TELECOM VENTURE GROUP LIMITED:
POWERTEL LIMITED - ASX PWT
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