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CityNet to buy OpenNet for SGD 126 mln

2013-08-23 02:24:00| Telecompaper Headlines

(Telecompaper) Singapore's passive fibre network operator OpenNet, CityNet Infrastructure Management, and SingTel have filed a consolidation application with the Infocomm Development Authority of Singapore (IDA). The application seeks regulatory approval for the purchase of 100 percent of OpenNet by CityNet from the current shareholders. The current shareholders are Axia NGNetworks Asia, SPH Net, SPT Net, and SingTel. Local media report that CityNet would pay SGD 126 million for OpenNet.

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