Austar sell-off is delayed further

Louise Duffy ©RapidTVNews | 30-11-2011

Foxtel's proposed A$1.9bn takeover of Australian regional pay-TV company Austar United Communications has been delayed further by the anti-trust approval process.

The Australian Competition and Consumer Commission (ACCC), was due to deliver its verdict on the proposed deal on 30 November but Foxtel asked for more time to make further submissions.
"Austar welcomes this suspension as it indicates discussions between Foxtel and the ACCC are continuing," the company said.
"Austar remains committed to, and is confident of, bringing this transaction with Foxtel to a successful close in a reasonable timeframe."