Unwired's shareholders approved an AU$37 million investment from Intel on Thursday, which will allow the company to expand its wireless broadband Internet service to more Australian cities.
Unwired today announced the retirement of chairman Peter Shore, just a few days after the wireless provider signed a major investment deal with Intel Capital.
A small group of investors in Unwired are calling on their peers to reject the AU$127 million takeover offer made by Seven, claiming that the offer undervalues the potential that WiMax spectrum offers.
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.
Wireless broadband provider Unwired said this morning it had activated three new towers in Melbourne to double its coverage area in the southern capital.
A good merger always gets the pulse racing -- and Seven's takeover of Unwired could be shaping up to be one of the most interesting for a while.
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A key electronics industry group has approved a significant standard for wireless broadband specifications known as "WiMax," giving a boost to a technology proclaimed as a breakthrough for cheap high-speed Internet access.
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