Consolidated Media Says Not Considering Foxtel Stake Sale
May 03 2012 - 7:23PM
Dow Jones News
Consolidated Media Holdings Ltd. (CMJ.AU) said Friday it is not
considering selling its interest in Australian pay-television
company Foxtel following media speculation over a possible
sale.
The company said in a statement that it had held "very
preliminary discussions concerning a possible control
proposal."
"No control proposal or other form of offer has been made to CMH
and CMH can give no assurance that a control proposal will be
made," it said.
The company said investment bank UBS AG had been retained to
advise on any proposal.
Australian media reported Thursday that casino mogul James
Packer wanted to sell his 50.1% stake in Consolidated Media, which
owns 25% of Foxtel, to help fund a merger between his casino
company Crown Ltd. (CWN.AU) and rival Australian casino firm Echo
Entertainment Group Ltd. (EGP.AU).
-By Gavin Lower, Dow Jones Newswires; 61-3-9292-2095;
gavin.lower@dowjones.com
Telstra (PK) (USOTC:TLSYY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Telstra (PK) (USOTC:TLSYY)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Telstra Corporation Limited (PK) (OTCMarkets): 0 recent articles
More Telstra Corp. Ltd. ADS News Articles