PWT powertel limited

from comms day 4 july

  1. 3,439 Posts.
    Roslyndale still coy over new PowerTel plans

    Details of the Roslyndale Syndicate’s renewed takeover offer for PowerTel have yet to be revealed.

    Roslyndale director Trevor Kennedy said yesterday that his group was ”still beavering away” on the revamped
    offer to shareholders and offered no further insight into what the new offer will entail. ”We are not ready to say anything at this stage,” he said. Kennedy refused to comment on whether the Syndicate had considered contacting TVG for any potential future collaboration.

    Speaking from the US, TVG director Ed Sippel said that he was ”not surprised by the outcome” of Wednesday’s meeting and believed that pivotal shareholder DownTown Utilities had made an ”economic decision”.
    He added that the deal was not closed yet and TVG was now concentrating on closing the deal. ”We want to make the transition as smooth as possible, with minimum disruption to the Australian business, and get on to focussing on the customers,” he said. PowerTel shares closed yesterday at the opening price of 6.7 cents.
    Natalie Apostolou
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