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Swoop Holdings Limited ( (AU:SWP) ) has shared an update.
Vonex Limited has decided to cancel its current Scheme Implementation Deed with Maxo Telecommunications due to Swoop Telecommunications’ opposition, holding a 20% stake in Vonex. MaxoTel will not extend its all-cash offer, closing on January 28, 2025, and Vonex recommends shareholders accept this offer. The uncertainty of Vonex’s share price post-offer and Swoop’s conditional scrip offer, unable to proceed due to MaxoTel’s majority share, leads Vonex to explore repayment options for a $23 million debt.
More about Swoop Holdings Limited
Vonex is a telecommunications service provider offering mobile, internet, traditional fixed lines, infrastructure solutions, and hosted PBX and VoIP services primarily to small to medium enterprises. They also provide wholesale services and are focused on M&A growth strategies targeting profitable IT and telco businesses.
YTD Price Performance: 7.78%
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: €22.6M
See more data about SWP stock on TipRanks’ Stock Analysis page.
