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Telcos connect through $3bn merger

Telcos connect through $3bn merger

Malinas.Mark

Two firms have advised on the merger of two telecommunication companies, worth a total of $3 billion.

Firms: Allens (M2 Group); Minter Ellison (Vocus Communications)

Deal: M2 Group has merged with Vocus Communications.

Value: $3 billion

Area: M&A

Key players: The Allens team was led by corporate partners Mark Malinas (pictured) and Robert Simkiss, and competition partner Fiona Crosbie.

Deal significance: M2 Group provides telecommunications products and utility services to Australian households and small-to-medium businesses. Vocus Communications is an ASX-listed telecommunications provider of data centre, dark fibre and international internet connectivity across Australia, New Zealand, Singapore and the US.

According to a release by Allens, the merged company will become the fourth-largest integrated telco in Australia, with combined revenue of $1.8 billion per year.

Under the proposed merger, M2 Group shareholders will receive 1.625 Vocus shares for each M2 share.

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