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SYDNEY, Oct 1 Asia Pulse - Licensed WiMax broadband spectrum is now the hottest property on the telco block, with the two firms that control most of it enjoying share price surges fuelled by corporate dealmaking.
WiMax is an emerging technology to deliver high-speed wireless broadband.
Television broadcaster Seven Network Ltd (ASX:SEV) covets the technology for its potential to deliver rich video content to the nation's living rooms.
It was confirmed Friday the network had been in "preliminary and incomplete" discussions with regional pay television provider Austar (ASX:AUN) over the commercial development of the regional WiMax spectrum that Austar owns.
Responding to an Australian stock exchange (ASX) query, after its shares soared 13 cents to close up 8.28 per cent at .70, Austar confirmed it had been talking to Seven.
"Austar is currently having discussions with a number of parties, including the Seven Network Ltd, interested in exploring commercial and corporate opportunities relating to the development of WiMax in Australia," Austar chief financial officer Philip Knox said in a reply to the ASX.
The confirmation of talks with Austar comes after Seven Thursday launched a $127 billion takeover bid for the firm that controls most of the metropolitan Wimax spectrum, Unwired Group Ltd (ASX:UNW).