re: Ann: MNF launches Naked ADSL2 service at ... No company has...

re: Ann: MNF launches Naked ADSL2 service at ... No company has to reveal their "in confidence" specific arrangements, not even a public company has to reveal such detail. We have the 2 non-exective directors as our representatives in overseeing the value in the deal between Symbio & MNF. I have personally looked into this & can say that I am very satisfied that there is value there.

Based on my personal research & analysis I really do not think MNF are paying over the odds for VOIP backend considering what it costs to run it as we have seen from the financial reporting coming out of FRE & ENG.

I like that MNF is a VOIP retailer only. I would not want to see them stuck with an innefficient VOIP backend to maintain. MNF focus is 100% customer oriented, the way it should be.

Surely as a retailer without the burden of their own backend makes MNF a very simple and attractive takeover proposition particulty for another ISP or VSP. If a company wishing to take it over did not have their own backend then Symbio can fulfil that.

As for MNF taking over Symbio, in your dreams. I understand that Symbio is a very profitable private entity and that the directors & shareholders are quite happy to keep it as a private company. Consider this, they loaned MNF $2M, got to be some real profit in there.

Why change a good thing? Is MNF not going as well as you would like it to be? 70,000 clients, $10M+ Rev, 50-100% PA growth rates, profitibility, regular reporting. Looks pretty good to me.

Just wait until the FY09 yearly hits the market, re-rating for sure.