Service Stream Limited
(ASX:SSM) has requested its shares be voluntarily suspended amid speculation over the future of its Syntheo joint venture with Lend Lease Group
(ASX:LLC).
Service Stream says it requested the suspension to provide the company with time to clarify a number of issues within its fixed communication segment which may alter its full year profit guidance to the market.
In particular, the company says it needs to examine the impact on its results of the Syntheo joint venture.
Shares will be suspended until June 24.
According to media reports, Service Stream and Lend Lease are in advanced discussions to end the Syntheo joint venture, which holds almost $1 billion in contracts with NBN Co for the fibre optic rollout.
Service Stream generated a net profit of $8 million in the first half of the current financial year.
