re: Ann: MNF launches Naked ADSL2 service at ...
I think this forum has discussed Symbio in depth before.
Remember that Symbio handles all Skype traffic in Australia. That in itself must be a massive business and I would hope it is profitable for them. I believe that they also supply a number of other large VOIP retailers with backend.
It is entirely possible that Symbio could be making good profits and offer good value at the same time compared to it's competitors and particularly in comparison to the cost of building your own VOIP backend. I understand that those guys are pretty clever and have saved a lot of money by designing there own switching network rather than simply paying big dollars for industry standard hardware & software.
Of course there is a clear conflict of interest when a supplier & buyer share common directors & shareholders. This is without dispute in any relationship not just this one.
I would encourage you to make contact with the non-executive directors and get their opinions on this if it would make you feel better. I have satisfied myself that good value exists in this relationship and that adequate checks & balances are in place.
The 2 non executive directors own something like 5M fully paid shares between them, I believe that they would have their own shareholding interests high on the agenda when it comes to their directorial interests in MNF. That is good enough for me.
At the end of the day, this is about MNF not Symbio. In my opinion after just 3 years MNF has built something substantial, profitable and sustainable. I doubt they would be in this strong a position had they not purchased VOIP backend from someone like Symbio.
I think MNF and it's shareholders have a lot to be thankful to Symbio for quite frankly.
Anyway, do your own research, I can not add any more to this as I do not know any more.
Once you have done the detailed research, I am sure, like me, you will be buying more!
MNF Price at posting:
9.0¢ Sentiment: Buy Disclosure: Held
