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M2 shareholders approve Vocus marriage

2016-01-28 06:20:31| Telecom - Topix.net

M2 Group's $3.75 billion merger with rival Vocus Communications has been approved by shareholders, creating Australia's fourth biggest telco. Around 99.7 per cent of M2 shareholders gave their backing to the enlarged company on Thursday, which will rank fourth in size behind industry heavyweights Telstra, Singtel-backed Optus and TPG.

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Vocus, M2 Group to merge into company worth over AUD 3 bln

2015-09-28 08:57:00| Telecompaper Headlines

(Telecompaper) Australian and New Zealand wholesale IP transit and voice supplier Vocus and M2 Group have signed a merger agreement that will create the fourth-largest telecoms company in Australia by market value and the third biggest in New Zealand. The new company will be worth more than AUD 3 billion and have revenues of around AUD 1.8 billion. Vocus said it has offered 1.625 of its shares for each M2 share, implying an AUD 1.93 billion value for M2. The price represents a 25 percent premium to the closing price for M2 shares on 25 September. The deal, expected to generate up to AUD 40 million a year in savings, has been unanimously approved by each company's board ahead of a shareholder vote.

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