Business Services Industry
Court told of bet on One.Tel.
Australasian Business Intelligence, October, 2005
Oct 17, 2005 (The Mercury - ABIX via COMTEX) -- A court has been told James Packer and two other executives of media groups owned by the Packer family bet on One.Tel shares declining. The Supreme Court of New South Wales heard former One.Tel director and Publishing & Broadcasting Limited (PBL) CEO, Peter Yates, bet that the telco's shares would decrease after it announced a $A132m rights issue in 2001. Yates told the court he made the wager with PBL executive chairman and fellow One.Tel director, James Packer, and Consolidated Press CEO, Ashok Jacob.
Yates was providing evidence in the Australian Securities & Investments Commission case against One.Tel founder,
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