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The latest update is out from Swoop Holdings Limited ( (AU:SWP) ).
Swoop Holdings Limited has announced its support for the Scheme Implementation Deed between Vonex Limited and Maxo Telecommunications Pty Ltd, where MaxoTel will acquire all remaining shares in Vonex. As the second-largest shareholder in Vonex, Swoop plans to vote in favor of the scheme, which will result in approximately $6.17 million in cash proceeds for Swoop. This transaction allows Swoop to exit its investment in Vonex, enabling the company to focus on its core growth priorities and redeploy capital into other strategic initiatives or acquisitions.
More about Swoop Holdings Limited
Swoop is a national provider of data, mobile, and voice services catering to channel, business, and residential customers. The company focuses on its own fibre and fixed wireless infrastructure, aiming to deliver ultra-reliable, high throughput, flexible telecom network services. Swoop aspires to become Australia’s leading challenger internet and telecommunications provider.
Average Trading Volume: 165,000
Technical Sentiment Signal: Sell
Current Market Cap: A$21.23M
Find detailed analytics on SWP stock on TipRanks’ Stock Analysis page.