Review into 5GN’s unacceptable circumstances surrounding Webcentral buy shut down
Review into 5GN’s unacceptable circumstances surrounding Webcentral buy shut down
The application pushed, in part, for bidding withdrawal rights
Joe Demase (5G Networks) Credit: 5G Networks
The Australian Takeovers Panel has declined to conduct a review into another application on the acquisition of Webcentral by 5G Networks (5GN), this time focusing on claims of “unacceptable circumstances”.
Then, in early February, the Takeovers Panel declined to make a declaration of unacceptable circumstances and considered that it would not be against public interest to decline that declaration.
Keybridge then applied for the review into that decision less than a week later, to which the review Panel stated on 26 February that it agreed with the initial decision and that there were no appropriate orders available.