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The game is up for troubled NBN contractor Syntheo. 50/50 partner Service Stream is now likely to sell its thalf share to the other partner Lend Lease.
All is not well at telco construction company Service Stream. It has asked for an extension to trading in its shares on the ASX, pending an announcement over Syntheo, its 50/50 joint venture with Lend Lease. It will probably sell off its share in Syntheo.
NBN Co has awarded Syntheo, a Lend Lease / Service Stream joint venture, a $141m contract to build the NBN in South Australia and the Northern Territory.
NBN Co has signed an agreement valued at $133m for the large-scale deployment of the NBN in Victoria with Transfield Services.
NBN Co has awarded a contract worth up to $174m for its FTTH rollout in WA to Service Stream's (ASX: SSM) Syntheo joint venture with Lend Lease.
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