Amnet shifts services to iPrimus in Vocus consolidation
Customers are being asked to switch to new plans with iPrimus as sales wind down under the Amnet Broadband brand.
Customers are being asked to switch to new plans with iPrimus as sales wind down under the Amnet Broadband brand.
After completing multiple acquisitions of M2 Group, Amcom and Nextgen Networks, telecommunications conglomerate, Vocus Group (ASX:VOC), has recorded "thriving half yearly figures", with a revenue up 403 per cent and more than doubling its profit of $47 million.
The Australian Competition and Consumer Commission (ACCC) has pulled together an initial quarterly nbn wholesale market indicators report for the period ending March 31.
Wholesale mobile provider, Optus Wholesale, has signed an exclusive three-year mobile agreement with Vocus Communications (ASX:VOC). The 36 month agreement is an extension of an 11-year relationship with M2 Group, which merged with Vocus in February this year.
Telecommunications company, Vocus Communications (ASX:VOC), has reported its results for the half-year ending December 31, 2015. In a statement on the ASX, the company mentioned that its net profit after tax (NPAT) amounted to $27.4 million, up 203 per cent since the same time last year.
Shareholders have given their approval of the proposed merger between M2 and Vocus Communications.
The securities of M2 Group (ASX:MTU) and Vocus Communications (ASX:VOC) have been placed in trading halt at the request of the companies, pending the release of an announcement.
Since its proposed merger with Vocus Communications, M2 has taken the wrappers off a new Commander ultra-fast internet service.
The Australian Competition and Consumer Commission (ACCC) has decided it will not oppose Vocus Communication’s (ASX: VOC) acquisition of M2 Group (ASX: MTU).
"The real losers here are TPG in Australia and Vodafone in New Zealand."
The proposed merger between M2 Group and Vocus Communications will create more competition in the market, according to its executives.
Vocus Communications (ASX:VOC) and M2 Group (ASX:MTU) have entered into a Merger Implementation Agreement (MIA), under which the two companies will merge, by way of an M2 scheme of arrangement (Scheme), to create a full-service vertically integrated telco valued at more than $3 billion
M2 Group has seen its net profit jump to $73.7 million, up from $67.1 million in 2015 financial year.
ASX-listed M2 Group has gained majority ownership in specialist pre-paid international telecommunications services provider, Aggregato Global, increasing its shareholding to 61.2 per cent.
Telecommunications company, iiNet (ASX:IIN), has entered into a revised scheme implementation agreement with TPG Telecom following its submission of a counter proposal. This is a result of the matching right process contemplated under the Scheme Implementation Agreement (“TPG SIA”) between the two companies.