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News: Seven Group sells Engin for $9.1M

  1. FNN News
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    24/09/12
    11:13
    Post #: 10761476
    .


    Seven Group Holdings Limited (ASX:SVW) has confirmed it has sold its Voice over Internet Protocol business Engin to telecommunications provider Eftel Limited (ASX:EFT) for $9.1 million.



    Media reports suggest the sale has come in below the estimated $30 million Seven Group has invested since 2006 when it first acquired a stake in the internet phone company.



    The diversified investment group had also offloaded its wireless broadband business Vividwireless Group to Singapore Telecommunications Limited (ASX:SGT) owned Optus Mobile Pty Ltd earlier this year for $230 million. 




    Seven Group Holding generated a net profit of $176.7 million in the 2012 financial year.

    SVW Price at posting: $7.29 Sentiment: None Disclosure: Held
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