<div>Level 3 - seem to have been in right place at the right time plus what seems a good stable strategy of growth through acquisition. </div><div><br></div><div>The level3 P/E ratio is interesting <a href="http://www.nasdaq.com/symbol/lvlt/pe-ratio">http://www.nasdaq.com/symbol/lvlt/pe-ratio</a></div>

<div><br></div><div>What's been their most successful in your opinion MMC?</div><div class="gmail_extra"><br><br><div class="gmail_quote">On Fri, Nov 16, 2012 at 11:47 AM, Matthew Moyle-Croft <span dir="ltr"><<a href="mailto:mmc@mmc.com.au" target="_blank">mmc@mmc.com.au</a>></span> wrote:<br>

<blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><div dir="auto"><div>Level3 has been successful where its an owner not a buyer.  </div><div class="im"><div><br>On 15/11/2012, at 16:32, Chris Ricks <<a href="mailto:chris.ricks@securepay.com.au" target="_blank">chris.ricks@securepay.com.au</a>> wrote:<br>


<br></div></div><blockquote type="cite"><div><div class="im">
  
    
  
  
    <div>They could by some on SXC though,
      surely?<br>
      <br>
      On 16/11/12 11:28, Matthew Moyle-Croft wrote:<br>
    </div>
    </div><div><div class="h5"><blockquote type="cite">I can't see Level3 as a buyer - to make sense they'd
      have to get submarine capacity to hook it into their global
      network. 
      <div class="gmail_extra"><br>
        <br>
        <div class="gmail_quote">On Thu, Nov 15, 2012 at 3:51 PM, Chris
          Ricks <span dir="ltr"><<a href="mailto:chris.ricks@securepay.com.au" target="_blank">chris.ricks@securepay.com.au</a>></span>
          wrote:<br>
          <blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">
            <div bgcolor="#FFFFFF" text="#000000">
              <div>With Level 3's credit rating, financing the deal may
                be the problem.
                <div>
                  <div><br>
                    <br>
                    On 16/11/12 10:40, Zone Networks - Joel wrote:<br>
                  </div>
                </div>
              </div>
              <blockquote type="cite">
                <div>
                  <div>
                    <div>
                      <p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">Vocus

                          + 1 </span><span style="font-size:11.0pt;font-family:Wingdings;color:#1f497d">J</span><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"></span></p>



                      <p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"> </span></p>
                      <p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d">Would

                          have been interesting to see Level 3 in Aus
                          though</span></p>
                      <p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1f497d"> </span></p>
                      <p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"" lang="EN-US">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"" lang="EN-US"> <a href="mailto:ausnog-bounces@lists.ausnog.net" target="_blank">ausnog-bounces@lists.ausnog.net</a>
                          [<a href="mailto:ausnog-bounces@lists.ausnog.net" target="_blank">mailto:ausnog-bounces@lists.ausnog.net</a>]
                          <b>On Behalf Of </b>Skeeve Stevens<br>
                          <b>Sent:</b> Friday, 16 November 2012 10:28 AM<br>
                          <b>To:</b> <a href="mailto:ausnog@lists.ausnog.net" target="_blank"><ausnog@lists.ausnog.net></a><br>
                          <b>Subject:</b> [AusNOG] Vocus to buy
                          NextGen/Infoplex/Metronode?</span></p>
                      <p class="MsoNormal"> </p>
                      <div>
                        <p class="MsoNormal">For those that aren't
                          subscribers to AFR (I'm not either!), here is
                          a story about NextGen and potentially Vocus
                          being involved.</p>
                      </div>
                      <div>
                        <p class="MsoNormal"> </p>
                      </div>
                      <div>
                        <p class="MsoNormal">If Vocus were, I'd say HELL
                          YES! and it would be an awesome fit, give them
                          new DC's and make them an awesome player.
                           Yes, everyone knows I'm a fan of Vocus, a lot
                          of us in the Service Provider game are... and
                          it would be amazing to see Vocus rise to this
                          level.</p>
                      </div>
                      <div>
                        <p class="MsoNormal"> </p>
                      </div>
                      <div>
                        <p class="MsoNormal">I'm really NOT a fan of TPG
                          having both Pipe Networks and NextGen (as
                          someone who designs infrastructure).  The same
                          reason goes for Telstra and Optus not having
                          it.  Maybe the ACCC would stop TPG buying it
                          as well (let's hope).</p>
                      </div>
                      <div>
                        <p class="MsoNormal"> </p>
                      </div>
                      <div>
                        <p class="MsoNormal">I've heard a few things at
                          different events in the last couple of weeks.
                           Apparently Level 3 are no longer interested -
                          too expensive for what it is.</p>
                      </div>
                      <div>
                        <p class="MsoNormal"> </p>
                      </div>
                      <div>
                        <p class="MsoNormal">I've also heard that the
                          price that Leightons wants to these assets
                          seem to be way more than what people are
                          prepared to pay.</p>
                      </div>
                      <div>
                        <p class="MsoNormal"> </p>
                      </div>
                      <div>
                        <p class="MsoNormal">...Skeeve</p>
                      </div>
                      <div>
                        <p class="MsoNormal"> </p>
                      </div>
                      <div>
                        <p class="MsoNormal">---</p>
                      </div>
                      <div>
                        <p class="MsoNormal"> </p>
                      </div>
                      <div>
                        <p class="MsoNormal">From the AFR: (<a href="http://www.afr.com/p/opinion/mixed_bag_of_contenders_mulls_leighton_DaVoj8N1t22wY0436jXHnI" target="_blank">http://www.afr.com/p/opinion/mixed_bag_of_contenders_mulls_leighton_DaVoj8N1t22wY0436jXHnI</a>)</p>



                      </div>
                      <div>
                        <p class="MsoNormal"> </p>
                      </div>
                      <div>
                        <div>
                          <p class="MsoNormal"><b>Mixed bag of
                              contenders mulls Leighton assets</b></p>
                        </div>
                        <div>
                          <p class="MsoNormal"> </p>
                        </div>
                        <div>
                          <p class="MsoNormal">PUBLISHED: 16 Nov 2012
                            PRINT EDITION: 16 Nov 2012</p>
                        </div>
                        <div>
                          <p class="MsoNormal"> </p>
                        </div>
                        <div>
                          <p class="MsoNormal">Edited by Sarah Thompson
                            and Anthony Macdonald</p>
                        </div>
                        <div>
                          <p class="MsoNormal"> </p>
                        </div>
                        <div>
                          <p class="MsoNormal">As the sale process for
                            Leighton Holding’s telecommunications assets
                            inches forward, there is no shortage of
                            theories on what kind of deal might emerge.</p>
                        </div>
                        <div>
                          <p class="MsoNormal"> </p>
                        </div>
                        <div>
                          <p class="MsoNormal">Leighton has engaged
                            Macquarie Capital to explore the sale of its
                            fibre network owner NextGen, managed
                            services provider Infoplex and data centre
                            business Metronode. Indicative bids are due
                            by the end of next week.</p>
                        </div>
                        <div>
                          <p class="MsoNormal"> </p>
                        </div>
                        <div>
                          <p class="MsoNormal">The latest unlikely
                            company to be thought to be involved is
                            Vocus Communications. With a market
                            capitalisation south of $130 million, it
                            seems very hopeful. It would clearly need a
                            bigger partner to fund any tilt at the
                            assets, which analysts say could fetch as
                            much as $1 billion.</p>
                        </div>
                        <div>
                          <p class="MsoNormal"> </p>
                        </div>
                        <div>
                          <p class="MsoNormal">Would a private equity
                            buyer be able to shore up funding amid a
                            weak macro-economic outlook and the
                            politically precarious state of the national
                            broadband network?</p>
                        </div>
                        <div>
                          <p class="MsoNormal"> </p>
                        </div>
                        <div>
                          <p class="MsoNormal">Only time will tell but
                            it seems safe to say that Vocus is a name to
                            keep an eye on. The small-cap data centre
                            provider is among a range of domestic telcos
                            and international private equity firms that
                            was handed an information memorandum last
                            month.</p>
                        </div>
                        <div>
                          <p class="MsoNormal"> </p>
                        </div>
                        <div>
                          <p class="MsoNormal">Vocus would bring local
                            expertise to the table in any partnership
                            with an offshore buyer, and its management
                            has high ambitions.</p>
                        </div>
                        <div>
                          <p class="MsoNormal"> </p>
                        </div>
                        <div>
                          <p class="MsoNormal">Its shares have
                            outperformed the broader market, rising
                            about 22 per cent in 2012. Yesterday,
                            Perpetual increased its stake to 8.6 per
                            cent.</p>
                        </div>
                        <div>
                          <p class="MsoNormal"> </p>
                        </div>
                        <div>
                          <p class="MsoNormal">For Leighton, a
                            successful sale before Christmas could
                            alleviate pressures on its balance sheet
                            amid lingering concerns over further
                            write-downs.</p>
                        </div>
                        <div>
                          <p class="MsoNormal"> </p>
                        </div>
                        <div>
                          <p class="MsoNormal">TPG Telecom remains the
                            most plausible buyer given its strong
                            balance sheet, acquisitive owner David Teoh
                            and the fact that NextGen would complement
                            its existing fibre backhaul footprint.</p>
                        </div>
                        <div>
                          <p class="MsoNormal"> </p>
                        </div>
                        <div>
                          <p class="MsoNormal">iiNet will mull over a
                            potential bid at a board meeting next week
                            but is still considered a long shot. Telstra
                            and Optus could consider Infoplex and
                            Metronode but would likely be blocked by the
                            competition regulator in any move
                            for NextGen.</p>
                        </div>
                        <div>
                          <p class="MsoNormal"> </p>
                        </div>
                        <div>
                          <p class="MsoNormal">The Australian Financial
                            Review</p>
                        </div>
                      </div>
                      <div>
                        <p class="MsoNormal">-----</p>
                      </div>
                      <p class="MsoNormal"><br clear="all">
                      </p>
                      <div>
                        <p class="MsoNormal" style="margin-bottom:12.0pt"> </p>
                      </div>
                      <div>
                        <p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Calibri","sans-serif"">Skeeve

                              Stevens, CEO - </span></b><span style="font-size:10.0pt;font-family:"Calibri","sans-serif"">eintellego

                            Pty Ltd</span></p>
                      </div>
                      <div>
                        <div>
                          <p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Calibri","sans-serif""><a href="mailto:skeeve@eintellego.net" target="_blank">skeeve@eintellego.net</a> ; <a href="http://www.eintellego.net/" target="_blank">www.eintellego.net</a><span></span></span></p>



                          <p style="margin:0cm;margin-bottom:.0001pt"><span style="font-size:10.0pt;font-family:"Calibri","sans-serif"">Phone:

                              1300 753 383; Cell <a href="tel:%2B61%20%280%29414%20753%20383" value="+61414753383" target="_blank">+61
                                (0)414 753 383</a> ; <a>skype://skeeve</a></span></p>
                          <p style="margin:0cm;margin-bottom:.0001pt"><span style="font-size:10.0pt;font-family:"Calibri","sans-serif""><a href="http://facebook.com/eintellego" target="_blank">facebook.com/eintellego</a> ; <a href="http://linkedin.com/in/skeeve" target="_blank">linkedin.com/in/skeeve</a> </span></p>



                          <p style="margin:0cm;margin-bottom:.0001pt"><span style="font-size:10.0pt;font-family:"Calibri","sans-serif""><a href="http://twitter.com/networkceoau" target="_blank">twitter.com/networkceoau</a> ;

                              blog: <a href="http://www.network-ceo.net/" target="_blank">www.network-ceo.net</a></span></p>
                        </div>
                      </div>
                      <div>
                        <div>
                          <div>
                            <div>
                              <p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Calibri","sans-serif";color:#7f007f"><img border="0"></span></p>
                            </div>
                            <p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Calibri","sans-serif";color:#7f007f">The

                                Experts Who The Experts Call</span><span style="font-family:"Calibri","sans-serif""></span></p>
                          </div>
                          <div>
                            <div>
                              <p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Calibri","sans-serif";color:#002060">Juniper

                                  - Cisco – IBM - Brocade - Cloud</span><span style="font-size:10.5pt;font-family:"Calibri","sans-serif";color:#7f007f"></span></p>
                            </div>
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                              <div>
                                <p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Calibri","sans-serif";color:#002060">-----</span><span style="font-size:10.5pt;font-family:"Calibri","sans-serif";color:#7f007f"></span></p>



                              </div>
                              <div>
                                <p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:#002060">Check

                                    out our Juniper promotion website
                                    for Oct/Nov!  </span><span style="font-family:"Calibri","sans-serif""><a href="http://eintellego.mx/" target="_blank"><span style="font-size:10.0pt">eintellego.mx</span></a></span></p>



                              </div>
                              <div>
                                <p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Calibri","sans-serif"">Free

                                    Apple products during this
                                    promotion!!! </span><span style="font-family:"Calibri","sans-serif""></span></p>
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                      <p class="MsoNormal"> </p>
                    </div>
                    <br>
                    <fieldset></fieldset>
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