Hocus Pocus, No More Vocus
Vocus Group’s life on the ASX has only a few days to go after shareholders approved the $3.5 billion buyout of the Dodo and iPrimus owner by Macquarie and Aware Super.
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After years of working within Australia’s telecommunications industry, we realised there was a better way. Our mission was to build a telco for people like us. So now we build, own and manage our national fibre network and we innovate to deliver awesome services and products with a team that treats our customers the way we want to be treated.
We’re challenging the way our competitors do business in Australia and New Zealand and, as a result, we’re one of Australia’s fastest growing companies. We own and operate a global telecoms network that is always growing, expanding and improving to meet the future needs of our customers.
Our customers wanted more from our network, so that’s what we’ve given them. We now have over 21,000 km of fibre optic cable laid and operational throughout Australia, 5000 on-net buildings connected to our network and a further 20,000 buildings classed as near-net.
Highly skilled technicians and network engineers run our operations teams at Vocus. We take pride in our extensive experience designing and building superior carrier-grade networks. In fact, most of us have worked for the other guys in our industry and we’ve come to Vocus because we wanted to make more of a difference for our customers. We also wanted to have more fun doing it.
We work hard to give you the most secure, reliable and high-performance network solutions you’ve ever experienced. And we hope you’ll love working with us too.
Read more about the other brands within the Vocus Group.
Vocus Group’s life on the ASX has only a few days to go after shareholders approved the $3.5 billion buyout of the Dodo and iPrimus owner by Macquarie and Aware Super.
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Vocus Group suffered the embarrassment yesterday of two of its main brands - Dodo and IPrimus - being fined a total of $2.5 million in the Federal Court after an ACCC investigation.
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Vocus Communications has entered a scheme implementation deed for 100% of the stock with MIRA/Aware at $5.50 cash a share. UBS suggests there is a possibility of another bidder and a break fee of $35m has been disclosed. Neutral rating and $5.50 target retained.
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The $3.5 billion bid for Vocus is on track after the company yesterday backed the indicative all-cash offer from MIRA and Aware Super.
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An actual bid for telco group Vocus has moved closer with its prospective bidder adding an extra party to its group.
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UBS sees a higher probability for MIRA's current $5.50 bid for Vocus Group to succeed given conducive macro conditions and MIRA's track record in the space. Neutral with a target of $4.40.
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Vocus Communications has received an indicative proposal from MIRA to acquire 100% of the company at $5.50 per share. Morgans retains a Hold rating and increases the target price to $5.50 from $3.35.
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Shares in Vocus Group surged on Monday after it confirmed market rumours it had received an indicative $3.5 billion takeover offer from Macquarie Infrastructure and Real Assets Holdings (MIRA).
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The market had been discounting its valuation of Vocus Group, UBS suggests, based on pessimism over the company's ability to deliver on earnings forecasts and on under-valuation of its portfolio of assets. The August result and contract wins have countered the first point.
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While the economic outlook may continue to weigh, Vocus Group has removed a key overhang by refinancing debt facilities.
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