Morningstar | Vocus' Extensive Fibre Network Affords Attractive Economics, but Competitive Pressures Remain
Vocus is an infrastructure-rich telecommunications group focused on corporate and government customers with an extensive fibre and data centre network built organically and through numerous acquisitions over the years. M2, on the other hand, is an infrastructure-lite but salesforce-heavy consumer-focused telecom entity; its stellar growth has also been driven by many acquisitions. The February 2016 merger between these companies transformed the enlarged Vocus into a full-service, vertically integrated player with the necessary ammunition to materially lift its share in all segments of the Australian and New Zealand telecommunications markets. However, the group has been beset by integration and execution risks, leading to a string of board and management changes. The National Broadband Network, or NBN, regime also poses a risk to Vocus' consumer-facing business.Vocus Group is a telecommunications provider, providing telecommunications and other services to customers across Australia and New Zealand.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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