The week in review

Friday 24th May 2002

Telecom made a second application to the Commerce Commission for a determination on prices for interconnection with TelstraClear's network. The application comes as stalled negotiations prompted TelstraClear also to apply for determinations on interconnection and the pricing of wholesale services it might want to buy from Telecom.

Walker Wireless looks set to operate the first true 3G data network through a joint trial with Vodafone. It will use the relatively unknown UMTS TDD (TD-CDMA) technology provided by its technology partner, California-based IPWireless, to supply high-speed internet connections to 500 Auckland subscribers. Vodafone will provide $3 million while major investors Stephen Tindall and Craig Heatley are putting in $12 million.

Freightways Express' parent Ausdoc said it had started negotiations with an unnamed party prepared to make a cash bid of at least $A2.13 a share for the entire company. Another unnamed party has been negotiating to buy Freightways for just over a week, with a deadline of May 29. Several parties have conducted due diligence on Ausdoc and Freightways over the past few months.

Fletcher Challenge offshoot Rubicon has made a maiden profit for the year to March 31 of $30.4 million. It includes gains of $63.2 million from the sale of Fletcher Challenge Fuels, Challenge Petroleum and Capstone shares as well as a downward revaluation of almost $22.5 million of its investments in Fletcher Challenge Forests and Genesis Research & Development. Rubicon also lost $10.6 million from its operations of Forestadora Tapebicua in Argentina and expenditure on research activities in ArborGen.

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