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First State Super's deal could be the most important of the year

The battle for a little-known telco is a big moment for Australian capital markets. Super funds are now prepared to take listed firms private on their own. 

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The most important deal of the year just might involve two companies you’ve never heard of, and a superannuation fund determined to pull off an Australian first.

First State Super’s $600 million offer for junior telco Opticomm, which arrived just two days before shareholders were set to vote on a takeover bid from rival Uniti, is the first time a super fund has launched a direct bid for an ASX company.

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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com

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    Original URL: https://www.afr.com/chanticleer/first-state-super-s-deal-could-be-the-most-important-of-the-year-20200908-p55tln