Melbourne, June 23, 2008 AEST (ABN Newswire) - Diversified telecommunications services provider M2 Telecommunications Group Limited (ASX: MTU) has today announced that it has executed a two year wholesale agreement to supply People Telecom (ASX: PEO) with Optus third generation ("3G") mobile services, valued at a minimum of $9 million over two years.
The agreement with People Telecom marks another significant milestone in M2's rapidly expanding M2 Wholesale business, in terms of both the sizable monetary value and the strategic significance of the alliance, given People Telecom's established standing in the Australian telecommunications industry, particularly in the small and medium business markets.
The agreement to supply mobile services to People Telecom represents one of the numerous customer additions by M2 Wholesale over recent months, following M2's acquisition of Unitel Australia Pty Ltd from Commander Communications (ASX:CDR) in February this year.
M2's CEO and Group Managing Director, Vaughan Bowen, said of the People Telecom agreement; "The addition of People Telecom to our stable of wholesale customers is very pleasing and further illustrates M2 Wholesale's capability to meet the commercial and operational objectives of sizable players such as People, as well as the several hundred niche telco operators and Internet Service Providers which presently receive fixed line, mobile and data services from M2 Wholesale" M2 has had a busy last 12 months managing the integration of several strategic acquisitions, in the midst of which it delivered a 160% growth in earnings for the half year to December 31 2007 and has forecasted continued marked growth in both earnings and revenues for the full year to June 30 2008.
Contact
Ryan Banting
Head of Strategy
M2 Telecommunications Group Limited
Tel: +61 3 9674 6555
Dir: +61 3 9674 6540
Mob: +61 419 515 439
Fax: +61 3 9674 6599
Email: ryanb@m2.com.au
Web: www.m2.com.au
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