Austar Says Remains Confident Of Closing Deal With Foxtel
03 Février 2012 - 12:35AM
Dow Jones News
Pay television company Austar United Communications Ltd.
(AUN.AU) said Friday it remains confident that a 1.9 billion
Australian dollar (US$2 billion) buyout by pay television company
Foxtel will be successful.
"Austar remains committed to, and confident of, bringing the
transaction with Foxtel to a successful close," Chief Executive
John Porter said in a statement.
The company said it would seek court approval to postpone
shareholder meetings relating to the acquisition to the end of
March to allow time for Australia's competition watchdog, the
Australian Competiton and Consumer Commission, to complete its
review of the deal.
Foxtel is 50% owned by Australian telecommunications giant
Telstra Corp. (TLS.AU) and 25% each by News Corp. (NWS), the owner
of this newswire, and Consolidated Media Holdings Ltd.
(CMJ.AU).
-By Gavin Lower, Dow Jones Newswires; 61-3-9292-2095;
gavin.lower@dowjones.com
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