Austar calls shareholders meeting

Company News

Austar United Communications Limited (ASX:AUN) says the $2 billion takeover bid by Foxtel will be put to shareholders on March 30, despite the Australian Competition and Consumer Commission (ACCC) suspending its timeline for reaching a decision on the acquisition.

Last month, Austar postponed a shareholders meeting in order for the ACCC to finalise its review.

Austar reported a net profit of $120 million in its full year figures, ending December 31 last year.