Australia's Swoop Holdings hits over 3-week high on Moose Mobile acquisition plan

Swoop Holdings

01/07/2022 03:47

** Shares of Swoop Holdings  SWP.AX  climb as much as 10.7%
to A$0.620, their highest since June 8
    ** The telecom service provider enters into an agreement to
acquire Queensland-based mobile virtual network operator Moose
Mobile  urn:newsml:reuters.com:*:nFWN2YH1TW
    ** Purchase price payable at completion is A$24 mln ($16.49
mln)
    ** This acquisition is in line with our previous
transactions in that it provides strong cash generation - SWP   
    ** Stock down ~66.5% this year, as of last close 
    
    ($1 = 1.4554 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))