To: Ibexx who wrote (27812 ) 4/21/1999 8:48:00 AM From: 2brasil Read Replies (3) | Respond to of 152472
I NEVER SEEN ANYTHING LIKE IT AMAZING CONGRTATULATIONS TO ALL OT -AAPT says may float CDMA network SYDNEY, April 20 (Reuters) - Telecoms group and takeover target AAPT Ltd said on Tuesday it would consider a partial float of its planned CDMA network on the U.S. Nasdaq exchange. ''We're looking at possible partners and we may actually consider floating that off as a separate company,'' Williams told reporters after addressing a telecoms conference. This would involve choosing a partner, floating on Nasdaq, raising the money and building the CDMA (Code Divisional Multiple Access) network. However, Williams said a float was only one of eight options the company was exploring for its CDMA spectrum, which provides for a digital mobile phone network. Williams said AAPT was also negotiating an increase in its bank facility to A$300 million to help its planned expansion. The telco planned about A$450 million in capital expenditure over the next three years, he said. AAPT is the target of a hostile takeover bid by rival telco Cable & Wireless Optus Ltd at A$5.00 a share, which values the group at about A$1.49 billion. AAPT was up 15 cents shortly before midday on Tuesday at A$5.60 a share. Related News Categories: IPOs, telecom, US Market News Help Copyright © 1999 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. See our Important Disclaimers and Legal Information. Questions or C