Ann: Acquires Telecom New Zealand International voice business, page-2

Seems brave. A good purchase at a good profit multiple, but MNF will end up with debt of approx Aust$23M. That would be Debt to Equity of 60%. That is high!

They say they will pay down the debt from the project profit in 5 years. No sure how they can do this - they must expect the initial EBITDA to increase from the FY16 AU$3.5M - then there is the interest on the $23M, even if it is "low cost".

Glad I'm in MNF, but I won't be buying more.