"The main competitive tension in broadband markets would also continue.”
Woosh - News, Features, and Slideshows
Slingshot has purchased 9,000 Woosh customer, billed as a “natural addition” to the company’s existing business.
Woosh’s Rod Inglis struck a controversial note right at the beginning of the Finance and Expenditure Select Committee’s hearings on the Telecommunications Amendment Bill. Picking up his theme of the outdated nature of the Vodafone 3G solution adopted for rural broadband, He said “there’s not even a consideration in the bill of what pricing for 4G might be."
Wireless broadband company Woosh Wireless has pulled out of a financial nose-dive, posting a small profit of $1.3 million after previously burning through $180 million of shareholders' cash.
The reversal in fortune was helped by the fact the company had already written off almost all the value of its network, which it uses to provide a wireless broadband and phone service in the three main centres and in Southland.
Rather than incurring a big depreciation charge, Woosh instead upped the estimated market value of its network of transmission towers by $1.1m. It said the network would be more valuable than previously calculated to any company that wanted to use the towers to build a 4G mobile network.
Revenues rose 7 per cent to $18m, but the company remains in negative equity to the tune of $11.1m and indebted to its shareholders.
Woosh is competing in a consortium with state-owned enterprise Kordia and Wellington firm FX Network for a $285m government contract to upgrade rural broadband.
The telecommunications industry is almost united in opposing Telecom’s latest request to delay its operational separation undertakings.