Adamantem is believed to have considered an offer for Amaysim [ASX: AYS], the Australia-based telecommunications business, The Australian’s Dataroom reported. According to the unsourced report, Adamantem did not pursue an acquisition due to difficulty justifying the merits of the deal as competition in the mobile phone space accelerated.
Gresham is believed to have been working with Adamantem, the paper said.
The item noted that Investec has previously advised Amaysim, which was thought to interest Optus, the Australian telco, in 2016.
Amaysim has a market value of AUD 193m (USD 142m), the item noted.
AYS Price at posting:
92.5¢ Sentiment: Buy Disclosure: Held
