M2 Telecommunications Group Limited
(ASX:MTU), which provides online and mobile phone services, has announced plans to buy a pair of small telecommunication providers for $248 million.
M2 will pay $204 million for Dodo Australia and a further $44 million for listed carrier Eftel.
Both transactions will be funded by debt and M2 scrip, with a total of 19.2 million shares to be issued.
The move follows M2’s acquisition of Primus Telecom holdings in May, for $192.4 million.
M2 Telecommunications last reported a 24.4 million net profit to December 31.
