Axia NetMedia Completes Sale Of Its 70% Interest In OpenNet - Quick Facts

(RTTNews) - Axia NetMedia Corp.(AXX.TO) announced that its wholly-owned subsidiary, Axia NGNetworks Asia Pte. Ltd. or Axia Asia, SPH Net Pte. Ltd., SPT Net Pte. Ltd., have completed the sale of their aggregate 70 percent interest in OpenNet Pte. Ltd. to CityNet Infrastructure Management Pte. Ltd. with regard as Trustee-Manager of NetLink Trust. Axia Asia sold its 30 percent stake in OpenNet for a cash value of S$37.8 million or about C$31.8 million.

Axia whose operations are located in Alberta, France and Massachusetts, sells services over fibre optic communications infrastructure in jurisdictions that have implemented the Axia NGN Solution.