ASX Best Shares Austar United (AUN)

ASX Austar UnitedAustar United (AUN) is the largest provider of pay TV in regional and rural Australia, with around 730,000 customers receiving the company’s primary service of satellite digital television.

Yesterday, AUN confirmed its major shareholder, US-based Global Inc., and Foxtel have entered talks about a possible takeover of the company.

AUN was responding to earlier media reports which suggested Foxtel had made a $2 billion offer for the group.

Foxtel, which is 50% owned by Telstra (TLS), 25% owned by Newscorp (NWS) and 25% owned by Consolidated Media (CMJ), did not confirm the rumours.

AUN flew 10.6% following the announcement, making it one the best shares for the day in the Australian share market.

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