Vonex Limited Announces Termination of Maxo Deal Amid Swoop Opposition
Vonex Limited has announced the termination of its Scheme Implementation Deed with Maxo Telecommunications due to opposition from Swoop Telecommunications. The existing cash offer from MaxoTel will close on January 28, 2025, and the Vonex Board recommends shareholders accept this offer. Additionally, the Board is exploring options to repay a $23 million debt facility, which may involve discussions with other debt providers or a capital raise. With MaxoTel acquiring a majority interest in Vonex shares, Swoop's conditional offer is unlikely to proceed.
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