Hi,
Intersuisse see M2 as an easy recommend buy!
The Clear acquisition is significant. We expect M2 to continue to pursue bolt-on and complementary opportunities, while pursuing organic growth and integration benefits of synergy, cross-sell and scale. This focused strategy, M2?s low debt and sound track
record of annual growth in revenue, profits and dividends ? make it an EEASY TO RECOMMEND STOCK.
Vaughan Bowen is aged 37 (Wikipedia). While he and the M2 team ? several from before the ASX-listing, some from acquisitions, have come a long way already, this saga could
have a great deal further to go. Clear for take-off on the main runway, take your seats
Highlights:
M2 has a full product suite and national coverage. Its business is built around the cost base of a (lower margin) reseller model and it is ?infrastructure light? and will have no ?stranded assets? post-NBN.
Outstanding record of sound growth.
M2 has institutional backing.
Its growth is now predictable as a leader in a very large niche.
Despite being a leader in its niche SME market, M2 has an
overall telecoms market share of barely 2%.
Plenty more upside to come.
Clear for take-off on main runway
Smile, wave and keep holding the dream has mcuh further to run....
SD
http://m2.com.au/__data/assets/pdf_file/0004/9841/M2-Telecommunications-Group-Intersuisse-1-February-2011.pdf
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