A month ago, the company Voztelecom, a business communications operator, already gave its approval to the public takeover which issued by the Gamma Communications Europe. This company, has a type of business very similar to the Catalan company Voztelecom, because it gives services such as voice with IP technology or cloud service of virtual switchboards.
This was the second public takeover carried out in a company of Catalan origin listed on the Spanish Alternative Stock Market (MAB). In the previous year, a successful takeover was performed by the Japanese pharmaceutical company Kaneka on the Catalan biotechnological AB-Biotics.
In this case, Gamma offered €25 million for Voztelecom, which performs its services in both the Netherlands andthe United Kingdom. Although this company thinks the Spanish market is fundamental for its European expansion process, after having completed its first acquisition in the Netherlands some week ago.
The price per share is €4,42 which is the 52% of the price with which it went in the MAB in 2016. This price offered by Gamma is 52% over the initial €2.90 price, price that is reportedly a very reasonable amount for shareholders. But, for this to go ahead, a 80% of the share capital should be approved by March 30 (the date on which the session will be closed).
Although, the shareholders of Voztelecom who accumulate more than half of the capital, with Inveready the ICF leading it, have assured that they will sell their securities.
It should be noted that Gamma Communications Europe B.V. it is a company in Gamma Communications plc, a company listed in the AIM (London Alternative Market) for six years and which in the past year had revenues of £295.8 million which is translated into €356 million. The company also generates a strong cash flow obtained from operations, as well as being a company that has no debts.
On the other hand, Voztecom did not achieve such favourable results, as its revenue was €11.1 million, which was 5.5% more than the previous year and made losses of €53,900.
Following the above, a month later, it has been decided by the technical advisory committee of Ibex, that Voztelecom will be expelled from the Spanish Alternative Stock Market (MAB).
After the deadline on 30 March, when the outcome of the offer will be officially communicated, the committee shall be responsible for making a number of decisions.
Despite the changes, the companies wanted to point out that the current management team would remain in charge of the project in order to be the first cloud communications operator for Spanish companies.
Source: Valencia Plaza