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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Vocus Falls Foul of the ACCC, Fined $2.5m
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.
Read MoreVOC – UBS rates the stock as Neutral
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.
Read MoreVocus Gives Blessing to MIRA / Aware Bid
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.
Read MoreVocus Bid One Step Closer to Completion
An actual bid for telco group Vocus has moved closer with its prospective bidder adding an extra party to its group.
Read MoreVOC – UBS rates the stock as Neutral
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.
Read MoreVOC – Morgans rates the stock as Hold
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.
Read MoreVocus Shares Spike on Bid Confirmation
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).
Read MoreVOC – UBS rates the stock as Downgrade to Neutral from Buy
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.
Read MoreOutlook Better As Vocus Clears Debt Hurdles
While the economic outlook may continue to weigh, Vocus Group has removed a key overhang by refinancing debt facilities.
Read MoreVocus Joins A Select Club Reaffirming Guidance
A year or so ago telco Vocus Group would have been near the top of the list of companies in trouble (in the minds of investors) as it struggled with too much debt, too little cash flow and management, and board problems.
Read MoreSpurned Vocus Hints At Retail Breakup
While “there’s no quick fix” Vocus CEO Kevin Russell has told investors the telco no one wants may unlock shareholder value by selling assets like its retail brands iPrimus and Dodo.
Read MoreAGL Leaves Vocus At The Altar (Again)
Is telco Vocus so damaged financially that it is unsaleable? According to investors, the answer is yes with the shares well and truly thumped.
Read MoreAGL Committed To “Growing And Combining” Vocus
AGL shares at least steadied yesterday after the solid 7.7% sell-off on Tuesday in the wake of news of a firm but indicative approach to telco Vocus at $4.85 a share and the $100 million cut to expected 2019-20 earnings from a lengthy electricity generator outage at the Loy Yang station in Victoria.
Read MoreFourth Time Lucky For Vocus As AGL Lobs New Bid
Fourth time lucky for Vocus? The telco, Vocus will open its books exclusively to AGL Energy, less than a week after a Swedish private equity group, EQT withdrew its non-binding approach after doing due diligence.
Read MoreStrike Three: Private Equity Suitor Walks Away From Vocus
Vocus shares dropped dramatically yesterday after the company revealed late on Tuesday evening that would be suitor, Swedish private equity group EQT, was no longer interested in making an offer.
Read MoreVocus Shares Surge On Swedish Private Equity Bid
Shares in struggling telco, Vocus Group jumped more than 25% at one stage yesterday after it revealed it had opened its books to a Swedish private equity group called EQT Infrastructure after the telco received a $3.3 billion indicative offer.
Read MoreWhere Are The Benefits Of Telco Mergers?
Where do the benefits of large-scale mergers in the telecommunications sector lie? The eventual outcome may not be as it appears at first glance.
Read MoreNo Dividend, But No Surprises At Vocus
Mid level telco Vocus Group, (which owns internet brands iPrimus and Dodo), has reported a 17% fall in underlying net profit for the year to June with directors confirming there will be no final dividend paid.
Read MoreBob Mansfield Takes Vocus Chair
Vocus jumped more than 6% yesterday, ending at $2.40 after it said that former Telstra chairman and founding Optus chief executive Bob Mansfield will replace Vaughan Bowen as its chairman.
Read MoreVocus CEO Cuts The Cord
Shares in Vocus Group rose by around 3.6% after CEO Geoff Horth fell on his sword in the wake of the weak interim results.
Read MoreVocus Slips On New Downgrade
Another cut in guidance from struggling telco, Vocus Group and another pounding from nervous investors as the shares fell sharply.
Read MoreVocus Trims Down To Cut Debt
Vocus shares jumped sharply yesterday after the company reaffirmed its 2017 profit guidance and detailed more asset sales as it seeks to make up for the damage done in the wasteful $5.8 billion expansion splurge of the past couple of years.
Read MoreVocus Confirms Write-Offs
As expected, Vocus Group booked a $1.5 billion loss for the year to June 30, compared with a $64 million profit in the previous period after the more than $1.5 billion in asset write-downs across its Australia and New Zealand businesses announced last week.
Read MoreShunned Vocus Downgrades Outlook
Shares in telco, Vocus Communications shed more than 14% of their value yesterday after the company joined Fairfax Media in being rejected by private equity suitors.
Read MoreBidding War Begins For Vocus
No one wants to offer real money early in takeover bids these days for companies, especially private equity groups.
Read MoreKKR Kicks Off Bidding War For Vocus
Shares in struggling telco, Vocus Group soared 20% yesterday after US private equity group KKR has made a multi-billion dollars buyout proposal that is likely to trigger a bidding war.
Read MoreVocus Unplugged As Board Loses Credibility
Shares in telecommunications group Vocus fell almost 30% yesterday at one stage after the company has unveiled its second profit downgrade in less than seven months.
Read MoreVocus Outlook Offline
This is what you get when you spend nearly $6 billion expanding to become a major player in a key Australian business sector, and it all turns to mush – shareholders see the value of their shares plunge and they end the day more than $600 million poorer.
Read MoreVocus Coup Collapses, Founder Departs
All is not lovey dovey at telecommunications group Vocus.
Read MoreVocus & Vita shares power ahead whilst Telstra shares continue to decline
Telstra (TLS – blue) is down -11% over the last year, but two other companies in the same space have run rings around TLS; Vita Group (VTG – red) is up +141% and Vocus (VOC – green) is up +49%. See chart below.
Read MoreThree Australian companies will ask their investors for over $1.8 billion, for expansion
Brexit may be battering markets and investor confidence, but it hasn’t stopped three Australian companies from risking going to the market for close to $2 billion to help fund major expansion plans here and offshore.
Read MoreVocus, M2 Group Plan Merger
Investors take the now usual positions in a surprise takeover/merger situation – they sell the bidder and buy the target in the faint hope of a higher bid. In the case of yesterday’s news that Vocus Communications (VOC) is bidding for M2 Group (MTU), hopes of a counter bid seem to be remote at best, and fairly silly.
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