M2 Ponies Up $200M For Primus’ Australian Division

Law360, New York (April 19, 2012, 7:13 PM EDT) -- M2 Telecommunications Group Ltd. will shell out $200 million for Primus Telecommunications Group Inc.'s Australian branch in a move that will augment its existing business with updated infrastructure and loads of new customers, the companies announced Monday.

The telecommunications providers expect the cash deal, which is subject to undisclosed conditions but not shareholder approval, to close by the end of next month. With the sale, M2 said it will snatch up Primus' 165,000 customer contracts and its trusted brand, plus 500 employees and a network of...
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