FOXTEL AFTER AUSTAR AGAIN?
January 11th 2008 23:44
Speculation abounds again that Australian pay TV provider Foxtel might again consider buying regional rival Austar.
Such negotiations went nowhere last year, but now that Austar has sold its wireless spectrum to the Opel telco alliance it now has less risk attached to it (see MediaBlab archive.)
The Sydney Morning Herald reported that the major stockholder in Austar, US-based Liberty Global, had demanded $A2 per share, with Foxtel not prepared to offer above $A1.80.
On Wednesday the stock closed at $A1.595.
Greg Fraser, an analyst at Shaw Stockbroking, told the Sydney Morning Herald that the deal is now “less complex, it's now just basically pay TV. It's a real no-brainer for Foxtel to buy it and put the two together."
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