PowerTel (PWT): Winner

Submitted by Marco on 12 November, 2006 - 09:44

PowerTel (PWT) Stock Price Chart

PowerTel (PWT) was the best performing company on the Australian sharemarket this week (Winner of the week for week 45 of 2006). This telecommunications company closed the week 17 percent higher after news of their share buyback. As part of the company's capitalmanagement initiative, PowerTel have launched a share buy-back program for the purchase of 10 percent of its share base which is 13.9 million shares. He company is also considering other further investment options such as strategic alliance investments to support their alliance with AAPT, capital returns and merger and consolidation initiatives. On other related recent news with PowerTel is that it has reached an agreement with Westpac on a debt refinancing facility increasing their total term financing commitments from $50 million to $90 million.

PowerTel Limited is listed on the Australian Stock Exchange (ASX) under stock code PWT. You can view their investor website here. PWT listed on the ASX on 5 June, 1986. PowerTel (PWT) provides Telecommunications Services including local calls, long distance, fixed to mobile calls, leased line, frame relay, ATM, managed router services, LAN bridging, corporate dial, Internet, co-location and IP VPN services. Browse for Australian stockbroker recommendations. Check your charts and good luck with your share trading!