Seven Wins Unwired

Written by Adam Gosling

Tuesday, 04 December 2007

Having reached in excess of 90 per cent share holding in would be WiMax service provider, Unwired, The Seven Network Limited subsidiary Network Investment Holdings has confirmed its intention to compulsory acquire the remaining shares in the company. In a statement to the ASX, the company stated that" "As outlined in the bidder's statement, Network Investment Holdings Pty LImited intends to compulsorily acquire the remaining shares in Unwired Group Limited now that it has reached over 90%. The bid however, has been extended to allow remaining shareholders the oportuity to accept the offer for shares before Network Investment Holdings Pty Limited commences compulsory acquisition of shares not acquired under the offers:. The current offer concludes at 7pm on December 10, 207. Seven began its takeover of Unwired using its part owned residential VoIP service provider, Engin, to buy a ten per cent stake in Unwired before subsequently raising that to nearly 20 per cent before making an off-market offer directly through Network Investment Holdings. Engin agreed to sell its shares to Seven early last month and the company reached the 90 per cent threshold late last week. See other Unwired stories that have appeared on mobilised. Newer news items Telstra Promises 42Mbps Wireless By 2009 -12/02/2008 3G For A Better Environment -11/02/2008 HTC Touch Dual 850 New On NextG -03/02/2008 Telstra Says CDMA Incentives Will End -22/01/2008 3 Doubles Broadband Allowance -15/01/2008 Older news items SingTel's Mobile Subscribers Up 57% -06/11/2007 Skype, 3 Team Up For Mobile VoIP -29/10/2007 Consumers Want FMC: Companies Don't See The Benefit -02/10/2007 Seven In Unwired Takeover Bid -26/09/2007 Sydney Airport Network Improved For APEC -03/09/2007 Tag This Now: