NZ Acquisition Drives M2 Group Shares to Record Levels

April 13, 2015

 

Morgan Wealth Logo

M2 Group Limited (MTU) announced today that it has entered into binding agreements to acquire 100% of both Call Plus Group and a related entity, 2Talk Limited, collectively referred to as “Call Plus”, for total consideration of A$245 million. On the back of today’s announcement, shares in MTU surged to record levels, closing the day at $11.55, up 10.7%.

Founded in 2000, Call Plus is New Zealand’s third largest provider of broadband and fixed voice services. The acquisition is highly earnings accretive and is expected to result in underlying FY2016 earnings per share accretion of approximately 15% for MTU.

 

Our Top Recommendations
Total returns on capital growth and dividends for 12 months ended 30 June 2019
Afterpay Touch
168.13%
Appen Limited
109.95%
Nanosonics
77.85%
Goodman Group
59.36%
Rio Tinto Limited
29.41%
Atlas Arteria
26.13%
WTFS Global Core Infrastructure
18.425
Vaneck US Wide Moat ETF
16.69%
ASX200 Accum Index (comparison)
11.55%