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-------------------------------------------------------------- This story was printed from ZDNet Australia. --------------------------------------------------------------
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Seven opposes SingTel's Optus bid June 07, 2001 URL: http://www.zdnet.com.au/news/soa/Seven-opposes-SingTel-s-Optus-bid/0,139023165,120228486,00.htm
 Broadcaster Seven Network has urged Australia's Foreign Investment Review Board to reject SingTel's bid for Cable & Wireless Optus. Seven said its submission highlighted concerns about the implications of the SingTel offer, which if accepted would result in the takeover of a significant Australian asset by a foreign company, effectively controlled by a foreign government. "Seven believes that such a structure is unacceptable in ensuring integrity of our communications infrastructure and promoting competition and delivery of service to consumers," the television broadcaster said in a statement. The Foreign Investment Review Board will make a recommendation on the SingTel bid to Treasurer Peter Costello for a final decision. The Australian government has said previously it was investigating the security implications of the proposed takeover for an Australian Defence Force satellite joint venture with Optus.
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