Perth-based junior telco New Tel has named its price for the Australian assets of sunken WorldxChange, putting AU$9 million and five million New Tel ordinary shares on the table.
New Tel will be powered into the position of a national service provider if it get its hands on WorldxChange's local operations and will become a provider of all facets of telecommunications in Australia, including local, long distance and mobile telephony, Internet and related communications technology products and services.
WorldxChange, a switched service provider, also owns a national network coverage through five Siemens EWSD switches and 22 Points of Presence (POPs) in regional centres, interconnect agreements with Telstra, AAPT and Optus and an integrated procuring, support and online billing system.
"This is the first in a series of planned acquisitions designed to position New Tel as a major player in telecommunications in the Asia Pacific," a company statement said.
New Tel claims the acquisition will give it a combined customer base of 180,000 and revenues in excess of AU$150 million per annum.
The company has an emphasis on international services to Asia and is publicly listed in Australia and the US.
