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Article: SHAREHOLDERS OF AUSTRALIA'S SP TELEMEDIA OKAY TAKEOVER OF TPG.
- Article from:
- AsiaPulse News
- Article date:
- April 7, 2008
CopyrightCOPYRIGHT 2008 Asia Pulse Pty Ltd. 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)
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SYDNEY, April 7 Asia Pulse - Shareholders of SP Telemedia Ltd (ASX:SOT) have approved the company's takeover of internet provider TPG Holdings Ltd.
SP Telemedia is the telecommunications company that operates the SOUL mobile phone brand.
The takeover was expected to be completed by April 22.
SP Telemedia offered $A150 million ($US138.16 million) in cash and $A230 million ($US211.85 million) of its shares, valuing TPG at about $A244 million ($US224.75 million) at today's share price.
Shares in SP Telemedia gained 0.5 cent to close at 41 cents today.
The combined business will be one of Australia's largest DSLAM networks with ...