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Amaysim Shareholders Give Green Light To $250m Optus Deal

Optus’ acquisition of Aussie-owned amaysim has been given the green light after shareholders voted overwhelmingly in favour of the $250 million deal.

Shareholders of virtual mobile carrier amaysim voted 72 per cent in favour of the takeover on Thursday, clearing the way for the deal to be finalised in February.

Amaysim had been Optus’ wholesale partner for 10 years before the acquisition process was started.

Commenting on the vote, amaysim CEO, Managing Director and Founder, Peter O’Connell said: “We are very pleased that shareholders have voted in favour of the sale of amaysim’s Mobile business to our long-term strategic wholesale partner, Optus.

Over the last ten years, amaysim has successfully disrupted Australia’s mobile industry, providing customers with transparent plans and excellent customer service and this decision paves the way for the next chapter for the business.”

“I am looking forward to seeing amaysim provide more value and crazy customer love, just as we have throughout our whole relationship with customers.”

An Optus spokesperson told The Sydney Morning Herald it was a great outcome. “Optus is thrilled that amaysim’s shareholders have said ‘yes’ to our proposal.”

Amaysim is a Mobile Virtual Network Operator which resells mobile phone and data plans on the Optus network, it is the fourth-largest mobile provider in Australia with some 1.19 million subscribers.

Amaysim shareholders will receive payment for shares within five days of the transaction being completed, under an offer by Geoff Wilson’s WAM Capital to buy 100 per cent of amaysim’s shares.

The deal will give investors one WAM share for every 2.675 amaysim shares, $0.70 per amaysim share or a combination of shares and cash.

Completion of the acquisition will take place on February 1, 2021.

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