Snippets Corner: 16 March 2010 – TEL, SEV
March 15, 2010
Telecom Corporation of New Zealand Limited (TEL) said the government’s rural broadband plans that were originally set out in September 2009 would adversely impact the company’s EBITDA guidance for each of the 2011, 2012 and 2013 financial years by up to $56 million if they are enacted.
Seven Network Limited (SEV) shares were placed in trading halt in connection with proposed announcements of scheme booklets associated with its proposed schemes of arrangement. The company said the Federal Court considered the transaction this morning and that the information read out during the court hearing is materially price sensitive to Seven shares and TELYS3. Seven said its shares should not be permitted to trade until the market has the benefit of all the information in the scheme booklets. The company said it expects the halt to be to lifted upon the release of the scheme booklets to ASX by approximately 2pm today.
Seven Network Limited (SEV) shares were placed in trading halt in connection with proposed announcements of scheme booklets associated with its proposed schemes of arrangement. The company said the Federal Court considered the transaction this morning and that the information read out during the court hearing is materially price sensitive to Seven shares and TELYS3. Seven said its shares should not be permitted to trade until the market has the benefit of all the information in the scheme booklets. The company said it expects the halt to be to lifted upon the release of the scheme booklets to ASX by approximately 2pm today.
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