[AusNOG] Commsday Breaking News - M2 to buy Dodo and Eftel

[Skeeve Stevens]

Hey all, hot off the desk of the awesome people at Commsday (which is why
you should subscribe!)

*BREAKING NEWS
**M2 to buy Dodo, Eftel for A$248 million*
**

M2 Telecommunications has announced to the Australian Stock Exchange that
it will acquire Dodo Australia for $203.9 million on a debt-free and
cash-free basis. At the same time it has also made an off-market takeover
offer for wholesale carrier Eftel at an offer price of $0.3581 per share;
the offer would value Eftel at just over $44 million, inclusive of $5.6m
net debt.

M2 management said it expects the acquisitions to contribute in excess of
$400m revenue and $50m EBITDA in FY14. Among the reasons cited for the
acquisitions were that they would deliver M2 a nationally recognised low
cost brand via Dodo that is well positioned to grow market share, as well
as established capability in power and gas.



...Skeeve

*Skeeve Stevens - *eintellego Networks Pty Ltd
skeeve at eintellegonetworks.com ; www.eintellegonetworks.com

Phone: 1300 239 038; Cell +61 (0)414 753 383 ; skype://skeeve

facebook.com/eintellegonetworks ;  <http://twitter.com/networkceoau>
linkedin.com/in/skeeve

twitter.com/networkceoau ; blog: www.network-ceo.net


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