Aussie Broadband expected to sell Superloop stock after court setback
Superloop expects Aussie Broadband to slash its stake in it from almost 20 per cent to below 12 per cent by Tuesday after the latter failed to get an injunction stopping the share sale.
Aussie Broadband was ordered by Superloop on March 15 to lower its holdings to less than 12 per cent because it did not get permission from Singaporean regulators before acquiring the stock in late February as part of a $466 million indicative takeover approach, which was rejected.
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