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.
Seven has extended its takeover offer for WiMax spectrum holder Unwired a fourth time, as it edges achingly close to the 90 percent acceptance required for whole ownership of the business.
The bulk of shareholders in ASX-listed Unwired are yet to respond to Seven's proposed takeover of the wireless company, with only 21 percent of shareholders accepting the AU$127 million deal to date.
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.
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