First blood to Meo

Meo shareholders have given Mosman a bloody nose in the first round of their bruising takeover battle.

Mosman has been forced to give way in the face of almost complete rejection of their takeover offer by the shareholders of Meo.

Sitting dejectedly in their corner they have asked for more time before they come out slugging in round two.

The upshot is that Meo shareholders can strut around triumphantly for several weeks watching what Mosman might come up with to tempt them.

In the meantime Meo itself might release some exciting news.

It's a great time to be a Meo shareholder.