OpenNet sale to Singtel business trust approved by IDA

[CH_CO]

THE Infocomm Development Authority (IDA) has given the green light for OpenNet to be sold to a business trust owned by SingTel, despite strong opposition from the industry.

 

Under the planned sale of Singapore's fibre broadband network announced on August 22, OpenNet's owners - SingTel, SP Telecommunications, Singapore Press Holdings and Canada's Axia NetMedia - would sell it for $126 million to NetLink Trust.

But its day-to-day operations would be run by CityNet, the trustee-manager of NetLink Trust.

 

Announcing this late Thursday evening, IDA said that it is satisfied that the sale would have no substantial lessening of competition or harm the public interest.

 

 

End of day ,

[Picnic06-Biante15]

Seow leow ............ not MIO TV will run on OpenNet and I have to re-wire all over again with trunking running accross my hall....

Edited November 22, 2013 by Picnic06

[Knoobie]

OpenNet recently just tio orgong by gov right?

[Myxilplix]

Sigh. I also oppose this.

 

I signed up with viewqwest to get away from the regular providers and their half-fark service (i'm very happy with viewqwest service btw).

 

I don't have any mio tv/starhub cable and don't even plug my tv into the wall antenna socket because mio/starhub/mediacorpse can go suck my balls.

 

Now fookin singtel gonna take over OpenNet (dun gimme that business trust crap, we know the real score). They better not fook around with my VPN, internet tv or my connection speeds.

 

Just when I thought I was out, they pull me back in....