Displaying items by tag: M2

The bidding war for iiNet may not yet be done and dusted, even after TPG yesterday upped its offer to $1.56 billion to trump the other iiNet suitor, M2. Now the market waits to see whether M2 will come back to the table yet again with an increased offer.

TPG has upped its offer in the bidding war for iiNet to $1.56 billon, with the board of iiNet accepting the improved offer of cash or scrip over a competing offer by M2.

The TPG empire is striking back against M2’s bid for iiNet while raising its ownership of Amcom to 19.9% in news that will go public this morning.

The takeover war for control of broadband provider iiNet took another twist today, with bidder TPG given three days to put in a counter bid to the $1.85 billion offer from fast-growing ASX listed telco M2 Group (ASX:MTU).

Fast growing ASX listed telco M2 Group (ASX:MTU) has thrown a spanner in the works of TPG’s $1.5 billion cash bid to buy number three broadband provider iiNet with what looks to be a sensational $1.85 billion counter offer combining scrip in the merged company plus a cash bonus to shareholders. Early indications are that the market likes the proposed M2 deal a lot better than the TPG offer.

As he fights against TPG’s takeover of iiNet, the company he founded, Michael Malone has predicted that is only the first step in a wider industry consolidation, tipping that Vodafone Hutchison Australia will be next to be swallowed.

Telco M2 has announced a ‘process of consultation regarding a potential restructure’. That means jobs will go – possibly hundreds of them.

Up to 100 jobs at telco M2 are about to disappear as the company announced a ‘partial restructure’ of its business.

Australia's largest non-infrastructure based provider of telecommunications services, M2 Telecommunications (ASX: M2) has embarked on a radical shift of its business model by paying AUD$192m for Primus Australia - very much an infrastructure-based telco.

If you've got one of Telstra's superfast 4G USB modems, and you wish that you could plug it into a portable Wi-Fi hotspot so all your devices can feel the need for 4G speed'¦ Netcomm's new M2 could well be your new best M8.