MNF Group Ltd (ASX:MNF) Update on Acquisition of Business of Inabox Group (ASX:IAB)

On October 8 2018, MNF announced that it had entered into an agreement to acquire the Wholesale and Enablement Business of Inabox Group (ASX:IAB).

The Board of MNF acknowledges that on November 15 2018, Inabox Group (ASX:IAB) received a proposal for an off-market offer for the shares of IAB. This new offer in effect competes with the current offer by MNF to acquire the business assets of IAB. The IAB board has announced it will adjourn its EGM to vote on the sale of the business assets to MNF while it considers the new proposed competing offer.

MNF has analysed the current information available on the competing offer and is of the opinion that the MNF offer still provides more value to IAB shareholders. The MNF board will continue to work with the IAB board with the intention to complete our acquisition of the IAB business.


About MNF Group Ltd

MNF Group Limited (ASX:MNF) is one of Asia-Pacific's fastest growing technology companies. Listed on the ASX since 2006, it is now capitalised at around $320M, and twice winner of the Forbes Asia-Pacific "Best under a Billion" award. Headquartered in Sydney, Australia, the company has over 500 people located across Asia-Pacific, Europe and North America. MNF develops and operates a global communications network and software suite enabling some of the world’s leading innovators to deliver new-generation communications solutions.

As the world moves to IP, MNF Group is building the brands, services, network and technology to lead the way.

For further information about MNF Group Limited please visit: http://mnfgroup.limited/

  

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