"Another telco that recently announced a New Zealand-based acquisition is My Net Fone Limited (ASX; MNG), which operates primarily in the voice over internet space (VoIP), providing services to wholesale and retail customers.
My Net Fone will pay NZ$22.4 million to acquire the global wholesale voice business of Telecom International New Zealand. The acquisition is to be funded by bank debt and is at a cost of around 6.4x expected earnings of NZ$3.5 million before synergies and cost savings.
Of all the recent deals in the telco space this looks to have the real game-changing potential in my opinion. My Net Fone’s ambition to go global in providing wholesale hosted voice services suggests it may be the start of a new chapter of acquisitive growth based on a lucrative global menu.
The stock has lifted around 30% since the acquisition was announced and looks an appetising option for growth-oriented investors."
