Broadcaster Seven Network has made an off-market cash bid of up to AU$127 million to acquire Unwired in a move designed to guarantee access to a national wireless network.
Broadcaster Seven has secured over 90 percent ownership of WiMAX spectrum holder Unwired, and will now proceed to compulsorily acquire the remaining shares in the company.
Media company Seven's plan to acquire WiMax spectrum-holders Unwired appears to have been a success, with Seven's various holding companies now holding over 50 percent of Unwired shares.
WiMax-friendly ISP Unwired has sent a letter to shareholders advising they accept broadcaster Seven's up to AU$127 million takeover bid for the company.
After months of wrangling and shareholder protests, Seven has finally closed the book on its acquisition of wireless ISP Unwired.
WiMax, the controversial long range wireless broadband technology, is set to spread across rural Australia from next year -- but despite the outgoing Howard government's ambitious project, both fixed and mobile variants of the technology are already being deployed around the world.
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