Clever launches BigAir takeover bid

Clever launches BigAir takeover bid

Broadband provider seeks to consolidate the efficiency and geographical footprint of WiMax networks

Clever Communications is offering BigAir shareholders a one-for-one share exchange

Clever Communications is offering BigAir shareholders a one-for-one share exchange

ASX-listed broadband provider, Clever Communications, has launched a takeover bid for BigAir.

Clever is offering BigAir shareholders a one-for-one exchange for its shares.

Clever managing director, Scott Carter, said the companies maintained similar networks in similar locations and were utilising next-generation WiMax services.

“We also share similar go-to-market strategies through a channel approach. We see significant potential advantages of the merger in terms of liquidity, geographical footprint and improving efficiencies and consolidating the space,” he said.

Carter said a bidder’s document would be released in the coming weeks. A variety of end scenarios were possible at this stage, depending on the number of shareholders that took up the offer.

BigAir director, Jason Ashton, said it was recommending its shareholders take no action on the bid at this stage, which was unsolicited.

“The board hasn’t made a review of the proposal yet – we still need to work out what it means to the company,” he said.

BigAir provides wireless broadband services and operates its own carrier network across Sydney. It also has partnerships with other players, such as Unwired, in select states. The company listed on the Australian Stock Exchange in April 2006.

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