OpenNet, CityNet Infrastructure Management (CityNet) and SingTel have yesterday (22 August 2013) jointly filed a Consolidation Application with the Infocomm Development Authority of Singapore (IDA).
The Consolidation Application seeks regulatory approval for the purchase of stakes of OpenNet's shareholders by CityNet, the trustee-manager of NetLink Trust. Shareholders involved include Axia NGNetworks Asia, SPH Net, SPT Net and SingTel Interactive.
OpenNet assures its customers that all its services to them shall continue and remain unaffected during and after IDA's review of the joint application.
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