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December 10, 2007  |  Email This Article   |  Print This Article

Seven clinches Unwired bid

SYDNEY (WiMAX Day). Seven Network last week gained acceptance for its takeover of Unwired Australia from 90 percent of Unwired shareholders. Seven launched a takeover bid for Unwired in September. Seven now may compulsory acquire the outstanding shares in Unwired, however the company extended its deadline for compulsory purchase until today to allow “remaining shareholders the opportunity to accept the offer,” Seven said in a letter to the Australian Securities Exchange. The final acquisition of Unwired should prove a boon for the future development of WiMAX in Australia. Unwired has said it is planning the migration of its network to equipment based on the 802.16e standard, and the financial muscle of Seven should ensure a swift roll-out of the new network.