Amcom Telecommunications has put itself into a trading halt on the Australian Stock Exchange pending an announcement to be made on a proposed transaction.
Local telco Amcom Telecommunications has moved to shore up its future by buying back some of the 50 per cent stake its partial parent Futuris had been looking to sell.
Diversified industrial firm Futuris today said it intended to sell its 50 per cent stake in local telco Amcom speedily, as industry speculation intensified over who would be a likely buyer.
ASX-listed ISP iiNet is to buy fellow West Australian service provider Westnet for AU$81 million in cash.
The federal government has cancelled the contract for Optus and Elders to build a WiMAX broadband network, the companies say.
Say what you will about Senator Stephen Conroy, but he is clearly not a man afraid of confrontation. Well, he'd better not be, because by killing off the OPEL WiMax project he has just set himself up for a battle with Telstra of Biblical proportions or a big meal of crow washed down with a $4.7 billion gift to SingTel Optus.
A remarkable four-car pile-up is about to happen with the National Broadband Network; goodness knows what will emerge from the wreckage. Maybe there'll be no survivors at all.
The obvious candidates for consolidation in Australia's telecommunications sector are the 170 internet service providers that are scratching to make a living, but others include Dodo, M8 Telecom, Macquarie Telecom and Eftel.
If Pacnet's offer for AAPT is genuine and on the terms laid out in the Reuters story, then Telecom New Zealand chief executive Paul Reynolds ought to agree to the offer as quickly as he can.
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