Vocus, Amcom enter ASX trading halt
- 17 December, 2014 13:48
Vocus Communications (ASX: VOC) and Amcom Telecommunications (ASX: AMM) have both entered trading halts on the ASX today. The halt is in place as the two companies prepare to make an announcement about a proposal made to Amcom in October 2014 to potentially combine the two businesses.
In October, Vocus Communications announced it now held a 10 per cent interest in Amcom Telecommunications.
At the time, Vocus Communications CEO James Spenceley said the company had approached Amcom Telecommunications’ board of directors to gauge their interest about bringing the two companies together.
If the proposal goes ahead, Amcom Telecommunications' shareholders will receive Vocus Communications scrip or credit for their shares in Amcom.
“The assets and operations of Vocus and Amcom are highly complementary and the potential combination offers an enhanced growth platform, while creating a truly national player to capitalise on the evolving opportunities in the telecommunications sector," Spenceley said at the time.
More to come.