Pipe Networks and SP Telemedia have both gone into a trading halt this morning, pending announcements to be made later in the week.
Pipe Networks said it had been pitched something it needed to
consider. "The trading halt is requested pending an announcement to
the market in connection with a proposal received by PWK which the
company needs to review and give full consideration," the company
Soul Telemedia did not give a reason for its halt.
ZDNet.com.au asked Pipe Networks CEO Bevan Slattery if he
could deny a connection between the two trading halts. He declined
to comment. SP Telemedia did not return requests for comment.
Pipe has over a million metres of fibre network, bringing
capacity to customers in the central business districts and metro
areas of Sydney, Melbourne and Brisbane. It has just reaped the
rewards of its efforts to build a Sydney to Guam cable. The cable
went live and is now serving capacity to customers.
increased its scale last year with the acquisition of TPG,
giving it a large footprint. TPG is a customer of Pipe Networks.
Pipe also serves other ISPs such as Primus and iiNet.