Markets

Vocus has returned to profit but has cancelled dividends

Vocus full year profit of $61 million, an improvement on last year’s loss of $1.46 billion. Revenue up 4% to $1.9 billion. But no dividends. Telco Vocus returned to profit posting a full year result of $61 million but decided not to declare a final dividend. Instead, the company will […]
Vocus has returned to profit but has cancelled dividends
Markets

Former Optus chief executive Bob Mansfield is taking charge at Vocus

Bob Mansfield, a former chair at Telstra and the founding CEO at Optus, has become the independent chairman of the troubled telco Vocus. His appointment comes after the announcement last week of the departure of CEO, Geoff Horth, the founder of M2 Group which merged with Vocus in 2016. A […]
Former Optus chief executive Bob Mansfield is taking charge at Vocus
Markets

Vocus CEO Geoff Horth is going and its shares are rallying

CEO Geoff Horth is leaving Vocus by “mutual agreement”. Horth has headed the telco since February 2016, when the merger between Vocus Communications and M2 Group was completed. He had served as M2 Group CEO for nearly five years. In early trade, Vocus shares were up 4.2% to $2.47. The […]
Vocus CEO Geoff Horth is going and its shares are rallying
Markets

Vocus and TPG shares are on a tear

Shares in telcos Vocus and TPG Telecom ripped higher without any official news to explain the jump. A short time ago, Vocus was up 9.4% to $2.67. TPG Telecom shares were up 4.6% to $5.14. Earlier today Telstra, the market leader, held its annual general meeting where chairman John Mullen […]
Vocus and TPG shares are on a tear
Markets

Vocus faces a class action by disgruntled shareholders

Vocus has been hit by a proposed class action of disgruntled shareholders after the telco earlier this year scaled back its profit guidance. The owner of Dodo, iPrimus and Orcon in May downgraded its 2017 guidance forecasts including underlying net profit to $160 million-$165 million from $205 million-$215 million. And […]
Vocus faces a class action by disgruntled shareholders
Markets

Vocus shares are getting hammered

Vocus shares came out of a trading halt at 11:00am AEST and plummeted by more than 16%. It follows news that multiple private equity companies have dropped out of the race to buy the company. In July this year, Affinity Equity Partners made a bid for the company at $3.50 […]
Vocus shares are getting hammered
Markets

A second takeover bidder has emerged for Vocus

A second private equity firm, Affinity Equity Partners, has made a takeover bid for fourth tier Australian telco Vocus. The bid at $3.50 a share, which came last night after the market closed, is similar to that made in June by US-based KKR and values the company at $2.18 billion. […]
A second takeover bidder has emerged for Vocus
Markets

Vocus shares jump 20% on a takeover bid

Vocus shares jumped after a $2.2 billion takeover bid by private equity group KKR. A short time ago, they were up 20% to $3.43. The offer is $3.50 cash per share. The telco’s board of directors has formed a committee to assess the offer, appointed Credit Suisse and Goldman Sachs […]
Vocus shares jump 20% on a takeover bid
Markets

Private equity group KKR has bid $2.2 billion for Vocus

Private equity group Kohlberg Kravis Roberts & Co (KKR) has launched a $2.2 billion takeover for telco Vocus. The offer is $3.50 cash per share. A short time ago, the share price was $2.86, up 1.7%. Under the deal, KKR would also take on Vocus’s debt up to $1.1 billion. […]
Private equity group KKR has bid $2.2 billion for Vocus
Markets

Vocus shares are getting destroyed after a profit warning

Vocus shares fell sharply after the telco downgraded revenue and profit forecasts. A short time ago, the shares were down almost 25% to $2.53. The share price has almost halved over the last 12 months. In a presentation to the Macquarie Australia Conference in Sydney, CEO Geoff Horth downgraded revenue […]
Vocus shares are getting destroyed after a profit warning
Markets

Vocus profits have hit a record and its shares are soaring

Acquisitions have been good for telco Vocus Communications. The telecommunications player just posted a 94.9% rise in net profit to $47.2 million for the six months to December. Revenue was up more than 400% to $885.9 million. A short time ago, its shares were up 10% to $4.845. The company […]
Vocus profits have hit a record and its shares are soaring
Markets

Vocus shares are getting destroyed

Shares in Vocus Communications fell hard after the telco gave its shareholders an update on revenue and profit expectations following a string of mergers and acquisitions. A short time ago, the shares were down 26% to $4.23. The negative sentiment spread to competitor TPG Telecom whose shares fell 6.5% to […]
Vocus shares are getting destroyed