Tokyo, Japan, Sept 18, 2007 - KDDI Corporation, Intel Corporation, East Japan Railway Company, Kyocera Corporation, Daiwa Securities Group Inc., and the Bank of Tokyo-Mitsubishi UFJ, Ltd. today announced that they have agreed to invest in a joint venture, Wireless Broadband Planning K.K. (WBPK). The joint venture has been established to bid for the 2.5GHz frequency band for Mobile Broadband Wireless Access System (BWA). Subsequent to obtaining a license, it will develop and operate a wireless broadband network based on mobile WiMAX technology.
Under the agreement, WBPK intends to commence license application procedures for BWA base-stations based on mobile WiMAX technology. Should the company be successful in obtaining a license, the company plans to swiftly launch a mobile wireless broadband business.
In 2003 KDDI became among the first to focus on mobile WiMAX technology, and has since been heavily involved in fostering standardization of the technology with both IEEE and the WiMAX Forum. As a step towards commercialization of the technology, KDDI also carried out Japan's first WiMAX field trial last year in Osaka. Additionally, KDDI has long-standing technologies and expertise in telecommunications infrastructure development, operation and maintenance as well as telecommunications business operations, and is a leading comprehensive carrier offering mobile and fixed-line services. WBPK will leverage the strength and resources of KDDI.
Intel plays a strong leadership role in the development and deployment of WiMAX technologies and the development of compliant WiMAX devices. Intel plans to invest in the joint venture through Intel Capital, its global venture investment organization, which already has made significant WiMAX investments elsewhere around the world.
JR East holds extensive infrastructure including 7,500km of railway networks and 1,700 stations. JR East is an integral part of daily life for its customers, including a world record ridership of 16 million daily around Tokyo.
In addition, the extensive financial resources of Kyocera, Daiwa Securities Group and the Bank of Tokyo-Mitsubishi UFJ will help WBPK promptly deploy its planned mobile WiMAX network.
WBPK intends to become a global leader in the development and deployment of innovative services based around mobile WiMAX, and also intends offering these services globally through roaming agreements.
Subsequent to obtaining a license, WBPK intends to launch a wireless broadband business promptly. WBPK also sees opportunity for creating new market segments in co-operation with Mobile Virtual Network Operators (MVNOs). This will help consumers enjoy a variety of broadband services.
Looking ahead, WBPK intends to help develop and energize information and communication market segments, contributing to enhance Japan's international competitiveness as well as economic and social development for Japan.
Wednesday, November 7, 2007
Ericsson announces the first HSPA platform to enable true-mass market multimedia devices
Ericsson (NASDAQ:ERIC) today announced its U335 WCDMA mobile platform, the first to enable the introduction of mass-market HSPA multimedia devices capable of new services such as mobile TV, mobile video blogging and other services demanding both high uplink and downlink data speeds.
The Ericsson U335 combines high-speed uplink data with state-of-the-art multimedia functionality at a price level that makes true mass-market consumer devices possible. It differs from Ericsson's previously announced HSPA platforms, which have focused primarily on network access for PC-card products and high-end feature phones, making the U335 the first platform enabling HSPA devices for all segments on the market.
The latest addition to the mobile platforms portfolio of multimedia platforms, the U335 is expected to become a flagship product by supporting not only higher uplink data speeds than its predecessors but also incorporating several mobile TV standards and advanced multimedia features.
Robert Puskaric, head of Ericsson's mobile platforms' unit, says: "The U335 is the first platform to enable mass-market production of true multimedia devices. By enabling mobile TV through MBMS, DVB-H and Unicast, together with outstanding imaging, video and music capabilities in a cost-efficient package, we expect to see many consumer models built on this platform."
Jan Wäreby, senior vice president and head of Ericsson's multimedia business, says: "Today's announcement is the best example of how the different components of Ericsson's multimedia offering allow us to act as the driver for this emerging market. By leveraging on our technology innovation and deep knowledge of devices and consumers' needs, we have today launched a platform that will allow more and more consumers to enjoy innovative multimedia services."
By launching the U335 platform, Ericsson brings HSPA to the mass market almost one year ahead of schedule. Strong R&D efforts, together with the flexibility to adapt to market changes, make this possible, and show why Ericsson is the market leader in the WCDMA segment for independent platform suppliers.
Products built on the U335 platform are expected to be available in volumes in the second half of 2008.
The Ericsson U335 combines high-speed uplink data with state-of-the-art multimedia functionality at a price level that makes true mass-market consumer devices possible. It differs from Ericsson's previously announced HSPA platforms, which have focused primarily on network access for PC-card products and high-end feature phones, making the U335 the first platform enabling HSPA devices for all segments on the market.
The latest addition to the mobile platforms portfolio of multimedia platforms, the U335 is expected to become a flagship product by supporting not only higher uplink data speeds than its predecessors but also incorporating several mobile TV standards and advanced multimedia features.
Robert Puskaric, head of Ericsson's mobile platforms' unit, says: "The U335 is the first platform to enable mass-market production of true multimedia devices. By enabling mobile TV through MBMS, DVB-H and Unicast, together with outstanding imaging, video and music capabilities in a cost-efficient package, we expect to see many consumer models built on this platform."
Jan Wäreby, senior vice president and head of Ericsson's multimedia business, says: "Today's announcement is the best example of how the different components of Ericsson's multimedia offering allow us to act as the driver for this emerging market. By leveraging on our technology innovation and deep knowledge of devices and consumers' needs, we have today launched a platform that will allow more and more consumers to enjoy innovative multimedia services."
By launching the U335 platform, Ericsson brings HSPA to the mass market almost one year ahead of schedule. Strong R&D efforts, together with the flexibility to adapt to market changes, make this possible, and show why Ericsson is the market leader in the WCDMA segment for independent platform suppliers.
Products built on the U335 platform are expected to be available in volumes in the second half of 2008.
Ericsson launches wireless broadband project in India
Ericsson India Private Ltd today launched a rural wireless broadband connectivity project named Gramjyoti in the eastern coast of Tamil Nadu in partnership with four other companies and a non-government organisation (NGO).
The project will cover 18 villages and 15 small towns in the region around Mahabalipuram and will cater to around one lakh people residing there. It aims to provide high-speed Internet connection enabling the users to access a range of services including telemedicine, e-education, e-governance, online local information, voice and video call services, live television and entertainment
These services would be provided by the partner companies. Edurite will provide e-education, Apollo Telemedicine Networking Foundation will provide healthcare services, One97 will provide information on local weather, seeds, fertilisers, pesticides and market rates of crops and Turner International India Private Ltd will provide live television programmes through this network. The NGO Hand-in-Hand will organise the villagers at the local level and would work as a facilitator to help the villagers effectively use the new facilities.
“This will be the first HSPA-powered rural broadband demo network that will deliver the benefits of 3G to the local population,” the Vice-President (Marketing and Strategy) of Ericsson, P. Balaji, told presspersons here today.
“The initiative seeks to demonstrate how the new WCDMA/HSPA technology can be a major catalyst for social and economic empowerment by bridging the digital divide and improve productivity and quality of life,” he said.
The entire exercise is not a corporate social responsibility project but would eventually be a self-sustaining revenue generating activity, he added.
The President of Apollo Telemedicine, Dr K. Ganapathy, said that the project had the potential to provide basic healthcare services at a cost of around Rs 2 per family per day if the total number of families covered is large enough.
The project will cover 18 villages and 15 small towns in the region around Mahabalipuram and will cater to around one lakh people residing there. It aims to provide high-speed Internet connection enabling the users to access a range of services including telemedicine, e-education, e-governance, online local information, voice and video call services, live television and entertainment
These services would be provided by the partner companies. Edurite will provide e-education, Apollo Telemedicine Networking Foundation will provide healthcare services, One97 will provide information on local weather, seeds, fertilisers, pesticides and market rates of crops and Turner International India Private Ltd will provide live television programmes through this network. The NGO Hand-in-Hand will organise the villagers at the local level and would work as a facilitator to help the villagers effectively use the new facilities.
“This will be the first HSPA-powered rural broadband demo network that will deliver the benefits of 3G to the local population,” the Vice-President (Marketing and Strategy) of Ericsson, P. Balaji, told presspersons here today.
“The initiative seeks to demonstrate how the new WCDMA/HSPA technology can be a major catalyst for social and economic empowerment by bridging the digital divide and improve productivity and quality of life,” he said.
The entire exercise is not a corporate social responsibility project but would eventually be a self-sustaining revenue generating activity, he added.
The President of Apollo Telemedicine, Dr K. Ganapathy, said that the project had the potential to provide basic healthcare services at a cost of around Rs 2 per family per day if the total number of families covered is large enough.
It's time for Warm Up to Play with Wi MAX
Equipment suppliers and operators are readying plans for the commercial rollout of WiMax broadband services in India though the Centre continues to dither on the broadband policy. WiMax is the popular name for the 802.16 wireless metropolitan area network standard, which has a range of up to 31 miles and is seen as the most cost-effective option for a country like India where wire line networks are yet to reach the hinterland.
Said Protip Ghosh, vice-president, sales and marketing, Telsima Corp, which develops and provides WiMAX-based Broadband Wireless Access (BWA) and mobility solutions: “Though the government has set a target of 20 million by 2010, wire line will be able to cater to only five million and the rest will have to be met by wireless technologies such as WiMax.”
The government, on it part, however, sees WiMax as the only viable medium to achieve its broadband subscriber base target for 2010. Which explains why though the Centre continues to dither on the broadband policy, pending clarity on the 3G spectrum issue, telecoms, equipment manufacturers and solution providers are pushing ahead with WiMax.
In fact, the technology is already being deployed by telecoms for hooking up their backhaul connectivity (between telecom towers) while widespread testing is on for commercial rollouts later.
BSNL, Reliance Telecommunications, VSNL, Bharti Televentures, Aircel, Sify, to name just a few, have already rolled out limited WiMax networks. Others like Tata Teleservices are testing networks at various places.
In fact, the biggest event being watched is the BSNL tender for 10,000 WiMax base stations slated to open sometime soon which could open the floodgates.
Telsima is looking to rollout a massive 10,000 WiMAX base stations and 1,00,000 WiMAX subscriber stations this year, most of them in India, according to Ghosh. Much will depend on how soon clarity on the broadband policy can be achieved by the Centre. “There are certain regulatory and spectrum allocation issues that need to be resolved before India can see the actual commercial rollout of WiMax,” said A Sethuraman, chief marketing officer (South Asia), Alcatel-Lucent, which is awaiting to bid for the BSNL order.
Interestingly, Telsima is already a supplier to VSNL and Reliance while Alcatel is currently in talks with the former to help in the commercial rollout of the technology. “We are proud to be the first company to launch WiMax-based services in India,” Vinod Kumar, president (global data & mobility solutions), VSNL, told DNA Money. VSNL will extend its WiMax network to about 120 cities across India for enterprise customers and in five cities for retail customers by the end of the current financial year.
BSNL, which has undertaken pilots at 14 locations, is looking to roll out a WiMax network across 1,000 cities in the country. In October 2006, Chennai-based mobile operator Aircel launched its broadband wireless access on WiMax and by December 2007, it will cover 44 cities.
An interesting thing to the whole broadband play will be the impending showdown between the WiMax players and the 3G lobby which, too, maintains that the WCDMA/HSPA standard is the best for broadband services for a country like India. “In our reckoning, WiMax will have only 5-10 per cent of the market,” said P Balaji, vice- president, marketing and strategy, Ericsson India, which is aggressively pushing the WCDMA technology.
In fact, given that choices have already been made in some 150 odd markets, HSPA will command a 75-80 per cent of the broadband market down in India, he said. However, given that Ericsson does not push WiMax technologies, one could perhaps take the opinion with a pinch of salt. However, with less focus on mobility and powerful players like Intel aligned on its side, the WiMax lobby could emerge the winner in the long run.
Source: http://sify.com/finance/fullstory.php?id=14531372
Said Protip Ghosh, vice-president, sales and marketing, Telsima Corp, which develops and provides WiMAX-based Broadband Wireless Access (BWA) and mobility solutions: “Though the government has set a target of 20 million by 2010, wire line will be able to cater to only five million and the rest will have to be met by wireless technologies such as WiMax.”
The government, on it part, however, sees WiMax as the only viable medium to achieve its broadband subscriber base target for 2010. Which explains why though the Centre continues to dither on the broadband policy, pending clarity on the 3G spectrum issue, telecoms, equipment manufacturers and solution providers are pushing ahead with WiMax.
In fact, the technology is already being deployed by telecoms for hooking up their backhaul connectivity (between telecom towers) while widespread testing is on for commercial rollouts later.
BSNL, Reliance Telecommunications, VSNL, Bharti Televentures, Aircel, Sify, to name just a few, have already rolled out limited WiMax networks. Others like Tata Teleservices are testing networks at various places.
In fact, the biggest event being watched is the BSNL tender for 10,000 WiMax base stations slated to open sometime soon which could open the floodgates.
Telsima is looking to rollout a massive 10,000 WiMAX base stations and 1,00,000 WiMAX subscriber stations this year, most of them in India, according to Ghosh. Much will depend on how soon clarity on the broadband policy can be achieved by the Centre. “There are certain regulatory and spectrum allocation issues that need to be resolved before India can see the actual commercial rollout of WiMax,” said A Sethuraman, chief marketing officer (South Asia), Alcatel-Lucent, which is awaiting to bid for the BSNL order.
Interestingly, Telsima is already a supplier to VSNL and Reliance while Alcatel is currently in talks with the former to help in the commercial rollout of the technology. “We are proud to be the first company to launch WiMax-based services in India,” Vinod Kumar, president (global data & mobility solutions), VSNL, told DNA Money. VSNL will extend its WiMax network to about 120 cities across India for enterprise customers and in five cities for retail customers by the end of the current financial year.
BSNL, which has undertaken pilots at 14 locations, is looking to roll out a WiMax network across 1,000 cities in the country. In October 2006, Chennai-based mobile operator Aircel launched its broadband wireless access on WiMax and by December 2007, it will cover 44 cities.
An interesting thing to the whole broadband play will be the impending showdown between the WiMax players and the 3G lobby which, too, maintains that the WCDMA/HSPA standard is the best for broadband services for a country like India. “In our reckoning, WiMax will have only 5-10 per cent of the market,” said P Balaji, vice- president, marketing and strategy, Ericsson India, which is aggressively pushing the WCDMA technology.
In fact, given that choices have already been made in some 150 odd markets, HSPA will command a 75-80 per cent of the broadband market down in India, he said. However, given that Ericsson does not push WiMax technologies, one could perhaps take the opinion with a pinch of salt. However, with less focus on mobility and powerful players like Intel aligned on its side, the WiMax lobby could emerge the winner in the long run.
Source: http://sify.com/finance/fullstory.php?id=14531372
NextWave Broadband and Huawei Technologies Cooperate to conduct Interoperability Testing and Field Trials of Mobile WiMAX
Chicago, United States -- Business Wire (Business Wire India)
NextWave Broadband, Inc. a subsidiary of NextWave Wireless Inc. (NASDAQ: WAVE) and a manufacturer of advanced mobile WiMAX chipsets, and Huawei Technologies Co., Ltd. (Huawei), a leading provider of next-generation telecommunications network solutions to operators around the world, today announced they are conducting interoperability testing of NextWave's mobile WiMAX chipsets, based on the IEEE 802.16e standard, with Huawei's WiMAX infrastructure equipment.
The testing, being conducted at NextWave Broadband's facilities in San Diego, California, is evaluating the interoperability of NextWave's first-generation mobile WiMAX chipset which includes the NW1100 baseband system-on-a-chip (SOC) and matched NW1200 multi-band RFIC and Huawei's WASN9770 ASN-GW and BTS3703 three sector BTS platforms.
In addition to the interoperability evaluation, Huawei's commercial WiMAX equipment is also being tested at NextWave's trial network facility located in Henderson, Nevada. Key features being tested include handover, mobility, and enhanced services such as Voice-over-IP (VoIP) and video streaming.
“Our initial interoperability testing with Huawei has already yielded very positive results and demonstrates the maturity of our first-generation mobile WiMAX chipsets,“ said Mark Kelley, Chief Division Officer of NextWave Broadband's Advanced Technology Group. “We are pleased to be working with Huawei to take the steps needed to deliver next-generation, end-to-end WiMAX solutions.“
“We are excited about this opportunity to work with NextWave. The success of this inter-operability testing and field trials demonstrate Huawei's commitment to delivering innovative, custom solutions to our customers,“ said Carl Liu, Executive Vice President of North American Sales and Customer support for Huawei. “Huawei's industry-leading, end-to-end, WiMAX solutions provide users with exceptional services, such as video-on-demand, FTP downloads, and VoIP. We are looking forward to a continuing relationship with NextWave Broadband.“
NextWave's chipsets incorporate numerous NextWave innovations to improve performance, reduce power consumption, lower manufacturing costs, enable new types of advanced mobile multimedia applications, and allow seamless operation and roaming across worldwide WiMAX frequencies and profiles. Huawei's WiMAX solutions encompass a full portfolio of IP-based base stations using distributed architectures and leading-edge technologies such as MIMO, a fully IP-based WASN-Gateway, AAA, and terminals.
About Huawei Technologies
Huawei Technologies is a leader in providing next-generation telecommunications network solutions for operators worldwide. The company is dedicated to providing innovative and customized products, services and solutions to create long-term value and potential growth for its customers. Huawei's products and solutions are deployed in more than 100 countries and serve 31 of the world's top 50 operators, as well as more than 1 billion users worldwide. For more information, please visit www.huawei.com.
About NextWave Broadband
Headquartered in San Diego, CA, NextWave Broadband Inc., a subsidiary of NextWave Wireless Inc. (NASDAQ: WAVE), develops next-generation wireless broadband products and technologies for mobile device and network equipment manufacturers and for wireless service operators. The company's products and technologies include WiMAX baseband ASICs, multi-band RFICs, device reference designs, and advanced network components. With over 370 employees, NextWave Broadband has additional offices in Henderson, NV; Calgary, Canada; Sao Paulo, Brazil; Tokyo, Japan and Seoul, Korea. Visit NextWave Broadband website at www.nextwave.com.
Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements“ for purposes of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. There can be no assurances that forward-looking statements will be achieved, and actual events or results could differ materially from the events or results predicted or from any other forward-looking statements made by, or on behalf of, NextWave, and should not be considered as an indication of future events or results. Important factors that could cause actual events or results to differ materially are discussed in greater detail in the filings of NextWave with the Securities and Exchange Commission. All such documents are available through the SEC's website at www.sec.gov. NextWave makes no commitment to revise or update any forward-looking statements in order to reflect changes in events or circumstances
Contact Details:
Media: NextWave Wireless Inc. Michael Gury203-742-2535 mgury@nextwave.com
NextWave Broadband, Inc. a subsidiary of NextWave Wireless Inc. (NASDAQ: WAVE) and a manufacturer of advanced mobile WiMAX chipsets, and Huawei Technologies Co., Ltd. (Huawei), a leading provider of next-generation telecommunications network solutions to operators around the world, today announced they are conducting interoperability testing of NextWave's mobile WiMAX chipsets, based on the IEEE 802.16e standard, with Huawei's WiMAX infrastructure equipment.
The testing, being conducted at NextWave Broadband's facilities in San Diego, California, is evaluating the interoperability of NextWave's first-generation mobile WiMAX chipset which includes the NW1100 baseband system-on-a-chip (SOC) and matched NW1200 multi-band RFIC and Huawei's WASN9770 ASN-GW and BTS3703 three sector BTS platforms.
In addition to the interoperability evaluation, Huawei's commercial WiMAX equipment is also being tested at NextWave's trial network facility located in Henderson, Nevada. Key features being tested include handover, mobility, and enhanced services such as Voice-over-IP (VoIP) and video streaming.
“Our initial interoperability testing with Huawei has already yielded very positive results and demonstrates the maturity of our first-generation mobile WiMAX chipsets,“ said Mark Kelley, Chief Division Officer of NextWave Broadband's Advanced Technology Group. “We are pleased to be working with Huawei to take the steps needed to deliver next-generation, end-to-end WiMAX solutions.“
“We are excited about this opportunity to work with NextWave. The success of this inter-operability testing and field trials demonstrate Huawei's commitment to delivering innovative, custom solutions to our customers,“ said Carl Liu, Executive Vice President of North American Sales and Customer support for Huawei. “Huawei's industry-leading, end-to-end, WiMAX solutions provide users with exceptional services, such as video-on-demand, FTP downloads, and VoIP. We are looking forward to a continuing relationship with NextWave Broadband.“
NextWave's chipsets incorporate numerous NextWave innovations to improve performance, reduce power consumption, lower manufacturing costs, enable new types of advanced mobile multimedia applications, and allow seamless operation and roaming across worldwide WiMAX frequencies and profiles. Huawei's WiMAX solutions encompass a full portfolio of IP-based base stations using distributed architectures and leading-edge technologies such as MIMO, a fully IP-based WASN-Gateway, AAA, and terminals.
About Huawei Technologies
Huawei Technologies is a leader in providing next-generation telecommunications network solutions for operators worldwide. The company is dedicated to providing innovative and customized products, services and solutions to create long-term value and potential growth for its customers. Huawei's products and solutions are deployed in more than 100 countries and serve 31 of the world's top 50 operators, as well as more than 1 billion users worldwide. For more information, please visit www.huawei.com.
About NextWave Broadband
Headquartered in San Diego, CA, NextWave Broadband Inc., a subsidiary of NextWave Wireless Inc. (NASDAQ: WAVE), develops next-generation wireless broadband products and technologies for mobile device and network equipment manufacturers and for wireless service operators. The company's products and technologies include WiMAX baseband ASICs, multi-band RFICs, device reference designs, and advanced network components. With over 370 employees, NextWave Broadband has additional offices in Henderson, NV; Calgary, Canada; Sao Paulo, Brazil; Tokyo, Japan and Seoul, Korea. Visit NextWave Broadband website at www.nextwave.com.
Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements“ for purposes of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. There can be no assurances that forward-looking statements will be achieved, and actual events or results could differ materially from the events or results predicted or from any other forward-looking statements made by, or on behalf of, NextWave, and should not be considered as an indication of future events or results. Important factors that could cause actual events or results to differ materially are discussed in greater detail in the filings of NextWave with the Securities and Exchange Commission. All such documents are available through the SEC's website at www.sec.gov. NextWave makes no commitment to revise or update any forward-looking statements in order to reflect changes in events or circumstances
Contact Details:
Media: NextWave Wireless Inc. Michael Gury203-742-2535 mgury@nextwave.com
Seven ups Unwired offer
THE Seven Network has outlaid an extra $65.6 million on top of its $127 million takeover offer for Unwired to retire the convertible notes and options the struggling wireless internet company has on issue.
In its Bidder's Statement released on Friday evening, Seven urged Unwired shareholders to accept the bid, warning their holdings will be seriously diluted if the company sought the estimated $200 million needed to build its planned WiMAX wireless network.
"In addition, Unwired may be required to refinance $37 million in convertible notes by December 28, 2009 if their holders do not elect to convert them or pay up to $60.5 million if the convertible notes are redeemed," the Bidder's Statement said.
"In the absence of the offer, Unwired shareholders may face requirements to contribute further capital to the company or face dilution of their holdings," the bidders statement said.
Seven estimated its bid would cost $167.4 million, taking into account the convertible notes held by Mitsui and Intel and the 80.1 per cent of the company it does not already own.
In a bid to encourage Unwired shareholders to accept the bid quickly, Seven is offering to increase its 45¢ a share offer to 50¢ if it snares 90 per cent of the struggling wireless broadband company by November 8.
"If Unwired remains listed, Seven intends to seek additional equity funding for Unwired, sufficient to develop a WiMAX network," Seven added.
Despite speculation Optus could launch a counter-bid, Unwired has so far provided few hints its Target's Statement will raise any objections to the Seven offer.
(Source: http://www.theage.com.au/news/business/seven-ups-unwired-offer/2007/09/30/1191090944176.html)
In its Bidder's Statement released on Friday evening, Seven urged Unwired shareholders to accept the bid, warning their holdings will be seriously diluted if the company sought the estimated $200 million needed to build its planned WiMAX wireless network.
"In addition, Unwired may be required to refinance $37 million in convertible notes by December 28, 2009 if their holders do not elect to convert them or pay up to $60.5 million if the convertible notes are redeemed," the Bidder's Statement said.
"In the absence of the offer, Unwired shareholders may face requirements to contribute further capital to the company or face dilution of their holdings," the bidders statement said.
Seven estimated its bid would cost $167.4 million, taking into account the convertible notes held by Mitsui and Intel and the 80.1 per cent of the company it does not already own.
In a bid to encourage Unwired shareholders to accept the bid quickly, Seven is offering to increase its 45¢ a share offer to 50¢ if it snares 90 per cent of the struggling wireless broadband company by November 8.
"If Unwired remains listed, Seven intends to seek additional equity funding for Unwired, sufficient to develop a WiMAX network," Seven added.
Despite speculation Optus could launch a counter-bid, Unwired has so far provided few hints its Target's Statement will raise any objections to the Seven offer.
(Source: http://www.theage.com.au/news/business/seven-ups-unwired-offer/2007/09/30/1191090944176.html)
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