Vocus agrees to buy FX Networks for $115.8M including debt, paying cash, shares

Wed, 02 Jul 2014

By Jonathan Underhill July 2 (BusinessDesk) - Vocus Communications, the ASX-listed telecommunications company, agreed to buy FX Networks for $115.8 million including debt, gaining a New Zealand fibre optic cable network operator it says will add to earnings in its first year. Vocus shares jumped to a record on the ASX. Vocus will pay $62 million, with up to 33 percent paid in cash and the balance in new Vocus shares, and assume $53.7 million of debt, the company said in a statement to the ASX. That would see it issue between 8.8 million...

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