Business
New twist in 5G Networks (ASX:5GN) takeover of ASX-listed Webcentral
The continuing saga involving the 5G Networks Ltd (ASX: 5GN) acquisition of Webcentral Group Ltd (ASX: WCG) took another twist today.
5G Networks advised that the Australian Takeovers Panel had received another application from Webcentral’s key shareholder, Keybridge Capital Limited (ASX: KBC).
This is the second application from Keybridge, claiming that 5G Networks used coercive tactics to pressure Webcentral’s shareholders into selling.
At the time of writing, the 5G Networks’ share price has dropped 6% to $1.32, while the Webcentral share price is down 19.17% to 48 cents. Meanwhile, shares in Keybridge have been suspended from trading on the ASX since 2019.
Here’s the background behind the takeover
In November 2020, 5G…
-
Noosa News24 hours agoThe only person detained at Brisbane’s Palestine rally
-
Business23 hours agoHow to turn $500 a month into $500,000 with ASX shares
-
General16 hours agoAustralia urged to give AUKUS sub ‘commitments’ to US in event of war
-
Noosa News21 hours agoQueensland government to introduced artificial intelligence teaching tool Corella to all state high schools