UnWired just released an announcement to allay any rumours that...

UnWired just released an announcement to allay any rumours that the Intel deal was getting a bit wobbly. Also to counter some other stuff in the AFR. This is a selective quote from the release - much more to read in the main announcement itself:

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The company wishes to correct certain inaccuracies contained in a report in today’s Australian
Financial Review commenting on the company’s funding arrangement with Intel. The report also
undervalues the strategic benefit of the partnership, and the long-term revenue growth potential of
the Australian wireless broadband market.
Intel is a major proponent of WiMAX wireless broadband solutions around the world and is
working closely with Unwired to promote and deliver WiMAX wireless broadband to Australian
consumers. Unwired owns the majority of spectrum licences in the WiMAX designated frequencies
in metropolitan Australia.
The 50% redemption premium, criticised in the article, arises in only a very narrow set of
circumstances and Unwired’s directors believe it is justified on both commercial and strategic
grounds.
The premium applies only if Unwired is trading below 67.5 cents at the time of a change of control,
trade sale or insolvency event. It is payable only on notes Intel Corporation has not converted to
ordinary shares at that time.
If Unwired's stock is trading at greater than 67.5 cents (a 50% premium to the face value) then
Intel simply gets the same market value as everyone else.

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