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Solution 6 in cat and mouse game with ASX

Solution 6 in cat and mouse game with ASX

A report that Telstra is taking a stake in accounting software vendor Solution 6 has been dismissed as speculation by a Solution 6 spokesperson.

Following a report in the Sydney Morning Herald that the telco was to take a "20 per cent stake in the software group", Solution 6 requested a halt to trading in its stock on the Australian Stock Exchange.

Speaking on behalf of the company, Solution 6 marketing manager Rushenka Perera told ARN that trading had been suspended while its position in relation to the "speculative article" was clarified.

In a prepared statement, she said: "Solution 6 has been in wide-ranging discussions with a number of parties including Telstra. These discussions have raised the possibility of equity interests but remain inconclusive and incomplete."

According to the statement: "If any of these discussions do reach a positive conclusion, Solution 6 will make timely announcements in accordance with its regulatory requirements."

Perera confirmed that, following the statement to the ASX, the suspension was lifted and she expected trading to be uninterrupted as of Tuesday last week.

Solution 6 has recently taken a stake in stockbroking company Hartley Poynton in an initiative seen as supporting its interest in the application service provider (ASP) business.


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