BigAir yet to receive bid from Vocus

BigAir yet to receive bid from Vocus

Fixed wireless broadband operator BigAir (ASX:BGL) is yet to receive a formal takeover offer from Vocus Communications (ASX:VOC), the company has disclosed.

BigAir made the announcement in response to media reports Vocus, a wholesale telecom services provider, is considering a takeover bid.

BGA shares grew over 10% to $0.260 in Tuesday's trading on speculation of a deal, while VOC shares fell 2.43% to $2.410.

BigAir owns and operates a fixed WiMax network in Sydney, Melbourne, Brisbane, the Gold Cost, Adelaide and Perth.

Last month, the company upgraded its full-year underlying ebitda forecast by 30% to $5.2 million.

Vocus Communications is a wholesale telecom services provider, which has lately been expanding through acquisitions.

The company paid nearly $4 million for the dark fibre assets of Digital River Networks in a deal completed in May, and $5.9 million for the data centre business of E3 Networks last year.

BigAir has this year made some acquisitions of its own.

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Tags Mergers and acquisitionsTelecommunicationsbigairVocusASX:VOCASX:BGL

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