STOCKS ON THE MOVE * Shares in broadband phone group Engin Ltd...

  1. al1
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    STOCKS ON THE MOVE
    * Shares in broadband phone group Engin Ltd jumped
    22.6 percent to A$0.19 on market talk that its key shareholder,
    television broadcaster Seven Network Ltd , could be
    eyeing a full takeover of the firm.
    Seven could pay about A$0.25 a share, a dealer said. That
    would be a 61.3 percent premium to Engin's closing price on
    Tuesday and valuing Engin at about A$88 million ($78 million)
    based on its shares on issue.
    Seven is Engin's largest shareholder with an estimated 34
    percent stake, according to Reuters data.
 
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