Menu
​Vocus scales final hurdle to edge towards $3 billion M2 merger

​Vocus scales final hurdle to edge towards $3 billion M2 merger

“This is an excellent outcome for both companies’ shareholders."

James Spenceley - CEO, Vocus Communications

James Spenceley - CEO, Vocus Communications

Vocus Communications’ plans to acquire M2 Group for $3 billion has edged closer, with the telco receiving clearance from the Victorian Supreme court.

Following Commerce Commission clearance in New Zealand in early December, the final court approval across the Tasman now sets the stage for an implementation date of February 22.

“This is an excellent outcome for both companies’ shareholders,” says David Spence, Chairperson, Vocus Communications.

“This merger creates a new force in the telecommunications industry, capable of delivering great outcomes for our stakeholders.

“We look forward to maximising all the opportunities the merger provides, by continuing on a joint basis the tremendous success that each M2 and Vocus has achieved so far.”

As reported by Computerworld New Zealand in September, Vocus Communications proposed merger with M2 Group aims to create more rather than less competition due to a strong wholesale division which helps small Internet Service Providers.

In Australia, the merger will see Vocus Communications become the country’s fourth-largest telco, while in New Zealand, the Commerce Commission in particular remains satisfied that the acquisition will not have, or would not be likely to have, the effect of substantially lessening competition in the affected markets.

“We are very pleased to have received shareholder support and final court approval for the merger with Vocus,” adds Craig Farrow, Chairperson, M2 Group.

“I’d like to thank our loyal shareholders for their support over the last 12 years.

“We look forward to seeing shareholders receive excellent returns from the merged group.”


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Vocus CommunicationsM2 group

Featured

Slideshows

Reseller News launches new-look Awards at 2018 Judges’ Lunch

Reseller News launches new-look Awards at 2018 Judges’ Lunch

Introducing the Reseller News Innovation Awards, launched to the channel at the 2018 Judges’ Lunch in Auckland. With more than 70 judges now part of the voting panel, the new-look awards will reflect the changing dynamics of the channel, recognising excellence across customer value and innovation - spanning start-ups, partners, distributors and vendors.

Reseller News launches new-look Awards at 2018 Judges’ Lunch
Kiwi channel debates GDPR as Reseller News Exchange hits Wellington

Kiwi channel debates GDPR as Reseller News Exchange hits Wellington

This exclusive Reseller News Exchange, in association with Arrow ECS ANZ, ForeScout and StorageCraft, went on the road to debate the early implications of GDPR in New Zealand, extracting opportunities while evaluating challenges for the channel in the year ahead.

Kiwi channel debates GDPR as Reseller News Exchange hits Wellington
Show Comments