My Net Fone Reconsidered Offer for Symbio Group

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My Net Fone Reconsidered Offer for Symbio Group My Net Fone Reconsidered Offer for Symbio GroupMy Net Fone Reconsidered Offer for Symbio Group


4 January 2012

My Net Fone, a telecoms provider, has officially announced that the company had reviewed its offer for the Symbio Group to $6 million.
As the company stated, the actual cash payment has been lessened from $2 million to $1.3 million, supported from group operating cash flows.
Experts forecast combined net profit after tax at $2 million on revenues of $40 million, representing increases of 100% and 190% respectively.
My Net Fone has grown over the past few years, migrating from VOIP into dedicated net services. The company is one of Australia’s leading providers of fully IP based telecoms services such as VoIP, data and video services.
The Symbio Group is one of largest VoIP wholesale providers in Australia; it carries more than 1.2 billion minutes per annum of billable VoIP traffic via its nationwide network.

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