Optus announced today it had received sufficient acceptances to take its relevant interest to more than 50 per cent of Alphawest shares.
The flow of shareholder acceptance under the takeover bid had been steady and Optus hopes to move to compulsory acquisition shortly.
"We are seeing acceptances of, on average, around one to two per cent per day. This rate of acceptances reflects the generous price offered by Optus," an Optus spokesperson said.
Optus is offering 68 cents per Alphawest share - representing a 13 per cent premium to the Alphawest closing share price on 20 July 2005 (the last full day of trading before Optus announced the Offer).
Once Optus has acquired a relevant interest in 90 per cent of Alphawest shares, it intends to compulsorily acquire the remaining shares.
The Offer is scheduled to close at 7pm Sydney time on November 3 2005 (unless extended).
Media enquiries: Luisa Ford Optus Corporate Affairs Tel: (02) 9342 5045
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