Cobra telco deal sweetened

COBRA Resources NL’s investment in Internet and telecommunications provider Global Dial has been sweetened by the news that it has been joined on the carrier’s register by Singapore-based construction and property company Low Keng Huat Ltd, which will inject $1.7 million to acquire a 20 per cent stake.

LKH – which owns and manages properties across South East Asia and Australia including the Duxton hotels in Perth and Singapore – will be a partner for Global Dial in the Asian region, providing contracts and support for its push into China.

Cobra recently settled its acquisition of a 30 per cent interest in Global Dial to make it one of the company’s largest shareholders.

Global Dial was recently granted a telecomunications carrier licence by the Australian Communications Authority, clearing the way for its national growth plan in Internet telephony.