Reuters: Market News: Austar says would extend Foxtel agreement if needed

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Austar says would extend Foxtel agreement if needed Mar 30th 2012, 05:23 MELBOURNE, March 30 | Fri Mar 30, 2012 1:23am EDT MELBOURNE, March 30 (Reuters) - Australian pay-TV firm Austar United Communications said it would consider extending a takeover agreement with larger rival Foxtel if regulatory approval was not received by an April 17 merger deadline. "We have extended the agreement once. If we had to we will have a look at it again," Austar Chief Executive John Porter told reporters after a shareholder meeting. Shareholders earlier voted overwhelmingly to approve a $2 billion takeover by Foxtel, although the deal still needs to win approval from competition regulators.

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