Capital Research and Management, a subsidiary of investment management firm The Capital Group Companies, has bought a stake in Green Packet, owner of WiMAX operator Packet One Networks (P1), according to local reports.
Reports suggest that Capital…
Capital Research and Management, a subsidiary of investment management firm The Capital Group Companies, has bought a stake in Green Packet, owner of WiMAX operator Packet One Networks (P1), according to local reports.
Reports suggest that Capital Research and Management has purchased 30 million shares, an approximate 5% stake, in Green Packet for around US$10.2m.
Green Packet Holdings owns a 34.3% stake in Green Packet, OSK Technology Ventures holds 16.2% and in 2008, Intel Capital picked up a 3% stake for US$14m.
P1, which only launched in 2008, has around 180,000 customers.