B Digital and SP Telemedia strike deal

30 Nov 2004

Perth-based telco B Digital and regional telecoms and broadcast provider SP Telemedia have revealed plans for an alliance. Under the terms of the deal, which is subject to due diligence and the approval of shareholders, SP Telemedia will gain a 30% stake in B Digital, as well as AUD13.75 million in cash, in return for its telecoms re-sale subsidiary Kooee Communications and a 50% share of the assets of failed telco Comindico. The deal is estimated to be worth between AUD26 million and AUD39 million.