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About the FOXTEL Proposal
On 11 July 2011, AUSTAR United Communications Limited (AUSTAR, ASX: AUN) announced that it had entered into definitive transaction agreements with Liberty Global, Inc. (LGI) and FOXTEL Management Pty Limited (FOXTEL) under which FOXTEL will acquire AUSTAR by a series of transactions including a scheme of arrangement (Scheme).
The Scheme has now been implemented following the approval of Minority Shareholders and the Court, and the Australian Competition and Consumer Commission (ACCC) determining that it would not oppose the transaction, subject to undertakings offered by FOXTEL.
The transaction has now been completed and FOXTEL has taken ownership of AUSTAR.