ComTel (ASX:CMO) to sell mobile unit for $7.8m

ComTel (ASX:CMO) to sell mobile unit for $7.8m

Online and mobile communications company ComTel (ASX:CMO) has arranged to sell its postpaid and prepaid retail mobile business for $7.8 million.

The company, which is currently refocusing its efforts towards performance-based digital marketing, said the sale hinges on a number of factors.

These include the purchases reaching a direct supply agreement with Vodafone Networks, as well as shareholder approval.

The company said it planned to use the funds from the sale to pursue potential acquisition opportunities in the digital marketing sector, and to further develop its existing digital business, Empowered Communications.

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Tags Mergers and acquisitionsTelecommunicationsonline advertisingComTel

More about Empowered CommunicationsVodafone

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