M2 acquires majority stake in Aggregato

Company News

Telecommunications company M2 Group Limited (ASX:MTU) has moved to majority ownership in Aggregato Global. 

The asset is described as a specialist provider of prepaid international telecommunications services with a large retail distribution network. 

M2’s shareholding in Aggregato has now increased to 61.2 per cent and the proceeds of its investment will be put to funding working capital and retiring external debt.  

Today’s news comes about a week after M2 announced it has completed acquisition of CallPlus Group and 2Talk. 

M2 Group reported a net profit of $38.5 million for the first half of the 2015 financial year.