MNF Group Ltd (ASX:MNF) Completes Sale of Part of the Direct Business to Vonex
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MNF Group is all set to complete part-sale of Direct Business to Vonex
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MNF Group is all set to complete part-sale of Direct Business to Vonex
MNF’s Direct Business sells cloud phone, internet and mobile services directly to SMEs and residential customers in Australia, as well as dedicated audio and video conferencing business. MNF has re-affirmed its earnings guidance for the 2021 financial year.
All conditions of the conditional term sheet signed with Vonex on June 27, 2021, have been satisfied, including detailed due diligence with completion of the binding agreement set for early August.
The divestment of MNF’s Direct Businesses is in line with its strategy to simplify the business and drive growth in its CPaas and UCaas voice services.