Foreign Investment Review Board

FIRB Extends Review of Foxtel-Austar Deal


The Foreign Investment Review Board (FIRB) has ordered an extended review of Foxtel's takeover bid for Austar United Communications (ASX:AUN). The review is extended for 90 days until the Australian Competition & Consumer Commission (ACCC) completes its assessment of the merger.

Dai-Ichi Mutual Life Insurance APRA Approval


Japanese life insurance group, Dai-Ichi Mutual Life Insurance received approval from the Australian Prudential Regulation Authority (APRA) to increase is ownership of Tower Australia (TAL) from its existing 29.7 percent to 49.9 percent without having to seek approval from the Foreign Investment Review Board. Their current stake was bought in August 2008 when Tower was at $3.75 per share, yesterday's close was at $2.52 per share.

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