|
|
Article: Soul Pattinson puts struggling SP Telemedia up for sale.
- Article from:
- Australasian Business Intelligence
- Article date:
- December 5, 2007
CopyrightCOPYRIGHT 2007 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Matt O'Sullivan
Dec 05, 2007 (The Sydney Morning Herald - ABIX via COMTEX) -- Intense competition has prompted Australian telco SP Telemedia to call for new owners. Majority shareholder Washington H Soul Pattinson, along with other institutional shareholders, is believed to have encouraged the company to place itself on the market. SP sold several of its non-telco assets in May 2007, however it has failed to grow the business despite shedding all extraneous units. SP chairman Robert Millner concedes that the industry ...