'Role duplication' drives redundancies at M2
M2 may make up to 150 people redundant, the company announced this morning. In a statement issued to the ASX the company said that it had identified "role duplication" brought about by acquisitions.
M2 may make up to 150 people redundant, the company announced this morning. In a statement issued to the ASX the company said that it had identified "role duplication" brought about by acquisitions.
M2 Telecommunications revenue has jumped 73 per cent to $681 million, while net profit rose 33 per cent to $44.1 million for the full year ending 30 June, 2013.
M2 Telecommunications has closed its offer to acquire ordinary shares in Eftel, with more than 98 per cent of Eftel shareholders accepting the offer.
M2 Telecommunications has completed its $204 million acquisition of Dodo Australia and will acquire the remaining 5 per cent of Eftel shares for a 100 per cent interest.
M2 Telecommunications will acquire Dodo for $203.9 million and make an off-market takeover offer for Eftel for 35.81 cents per share, implying a total enterprise value of $44.1 million.