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ATC 13.5¢

TODAY'S NEWS UPDATE - TO STOCKO

  1. Grant62

    4,694 posts.
    Good morning Stocko,

    Communications Day has this morning confirmed that ATC is tipped to request a trading halt, today.

    Accordicng to CD, "Perth-based wholesale traffic carrier Advantel is tipped to request a trading halt in its shares today in advance of a major announcement regarding a merger or alliance with a leading UK communications carrier".

    The remainder of this morning's article reads, as follows:

    "The company’s top executives gathered in Perth last week and its understood a potential merger was the
    main topic of discussion. Advantel has enjoyed a doubling of its share price since it re-listed on the stock
    exchange at the start of the year, and the company is keen to continue its momentum".

    "The company’s stock jumped 6.8% to a record high of 47.5 cents as news of an impending deal has spread to the broking community".

    "Advantel have declined to comment to Comms Day about the possible merger talks, though sources close to
    the talks said a deal was imminent".

    "One reason for a tie-up would be to gain extra funding from a larger partner, in case other wholesalers move into the Asian-Europe voice carriage market. Non-executive director John Mittens, who co-owns a merger and acquisitions business in the UK, is leading the deal with the unidentified UK communications carrier".

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