Seven Network is potentially on the verge of operating it’s own wireless Broadband network after purchasing shares to the value of $9.5 million. Seven, who owns a 33% share of Internet telephony company ‘Engin’, provided funding for the latter of which to increase it’s stake with wireless Broadband Provider ‘Unwired’ from 11.4% to 19.8%.
Internet telephony company Engin — 33 per cent owned by Seven — increased its stake in wireless broadband provider Unwired from 11.4 per cent to 19.8 per cent, just short of the 20 per cent trigger that would force it to launch a formal takeover offer
Unwired chief executive David Spence welcomed the investment but was unsure what Engin — or Seven — would do now that it had reached the share ownership threshold.
Read the entire article at The Age.com.au
