Seven Network has come to the Unwired party offering an extra $65 million for a takeover. The revised amount is on top of the recent $127 million bid for the wireless network. As speculation grows over an Optus counter bid, Seven has upped the ante and increased its share offer by an extra 5 cents in the hope of fast tracking a deal.
In its Bidder's Statement released on Friday evening, Seven urged Unwired shareholders to accept the bid, warning their holdings will be seriously diluted if the company sought the estimated $200 million needed to build its planned WiMAX wireless network.
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