Business Services Industry
No wires attached.
Australasian Business Intelligence, October, 2006
Byline: Stuart Washington
Oct 05, 2006 (BRW - ABIX via COMTEX) -- Unwired has suffered a cash outflow of over $A1 million per month. The Australian telco has not received sufficient subscriptions to its wireless broadband product. Management has suspended the rollout of Unwired's Melbourne network in order to prepare its towers for new devices employing WiMAX (a fast global wireless broadband standard). Intel Capital has invested $A37 million in the firm's WiMAX initiative. Japan's Mitsui will invest up to $A8 million provided Unwired can raise a further $A18 million by 16 January 2007.
Publication Date: 28 September 2006
UNWIRED GROUP LIMITED - ASX UNW
MITSUI AND COMPANY LIMITED
INTEL CORPORATION
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