Austar CEO Says Will Advise Market If Receives Takeover Offer
20 Aprile 2011 - 4:39AM
Dow Jones News
Regional subscription television provider Austar United
Communications Ltd. (AUN.AU) said Wednesday it would advise the
share market if it receives a takeover offer.
Austar has been the subject of takeover speculation after it was
revealed its major shareholder, U.S.-based cable communications
company Liberty Global Inc. (LBTYB), had been in discussions with
rival Australian pay television company Foxtel in relation to a
possible takeover of Austar.
Austar Chief Executive John Porter told analysts at a briefing
that there was nothing new to report since a statement last month
that it hadn't received a formal proposal from anyone.
"We will advise you if there's any change in that situation," he
said.
Foxtel is 50% owned by Australian telecommunications company
Telstra Corp. (TLS.AU), with media companies News Corp. (NWS.AU)
and Consolidated Media Holdings Ltd. (CMJ.AU) each owning 25%. News
Corp. owns this news wire.
-By Gavin Lower, Dow Jones Newswires; 61-3-9292-2095;
gavin.lower@dowjones.com
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