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TPG trumped by Canadians in move for Leighton assets
Feb 20, 2013 (The Sydney Morning Herald - ABIX via COMTEX) --
Stock in Leighton Holdings on 20 February 2013 closed 3.58% higher at $A24.20, as investors reacted to news on its divestment of telco assets. It will sell 70% of these for about $A620m to the Ontario Teachers' Pension Plan, after entering into exclusive talks with the Canadian pension fund. This means that Australian-listed TPG Telecom misses out on the Nextgen Networks, Metronode and Infoplex operations being shed by Leighton, and TPG shares fell up to 9% during the day as a result.
Publication Date: 21 February 2013
LEIGHTON HOLDINGS LIMITED - ASX LEI
TPG TELECOM LIMITED - ASX TPM
ONTARIO TEACHERS' PENSION PLAN
NEXTGEN NETWORKS PTY LTD
METRONODE PTY LTD
INFOPLEX PTY LTD
NOMURA AUSTRALIA LIMITED
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